Germantown MD | Buying Is Now 33.1% Cheaper Than Renting in the US
At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and what type of houses they are looking for.
As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home.
Today I would like to talk to you about Buying Is Now 33.1% Cheaper Than Renting in the US
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.
The updated numbers actually show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!
Other interesting findings in the report include:
1.- Interest rates have remained low and, even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
2.- With rents & home values moving in tandem, shifts in the ‘rent vs. buy’ decision are largely driven by changes in mortgage interest rates.
3.- Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.
Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to find your dream home.
To protect your interests and assure that you make the best possible decisions,
it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market.
We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed,
and the most updated strategic view for your home purchase in Germantown Maryland
To reach us, please call 301-246-0001
or send us an email info@ReallyNiceHomes.com
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