On average, nationwide, owning is 26.3% LESS than renting in 100 of the major US metro areas. You read that correctly - ownership is less than renting. Remember, real estate is local. The difference between renting and owning in your metro area may be more or less. The differences recorded vary from 2% less in Honolulu to 48.9% less in Detroit.
For the newbies who have joined us - another way to look at this is you can make 360 rent payments and another will be due next month and the following months - or, you can make a mortgage payment 360 times and own your home. It is money in the bank!
On this one, I am going to point you to today's report. Get the details there by clicking on the link above.
Some myths just will not go away. The fact is, you can buy a home with good credit and very little down. Exploring the option cost you nothing but a little time. We are here to help.
If you are thinking of making your first home purchase, the first thing to do is get pre-approved. You will know not only IF you qualify, but how much you qualify for. If for some reason you do not qualify at the present time, you can find out what you must do to change that. It is not as difficult as a lot of folks think.
Once you are pre-approved, you know the price range to shop in (or under) and any offer that you decide to make has credibility. The seller will have a greater level of confidence in your ability to complete the purchase. If you have any questions about this, call and let's talk through it. Once upon a time, I bought my first house!