Rent or Buy?

I was reading the June/July Home Edition of Real Estate magazine, a California Association of Realtors (CAR) publication and found this article too good not to share. Entitled " Ask Yourself: Rent or Buy," the writer, Paula Hess, did a good job explaining that declining home prices has made the difference between renting vs owning, very significant. As compared to years past when home prices almost reached the sky and mortgage interest rates were high, now more than ever, the combination of low housing rates and prices has made it more appealing to buy, than rent.

Ms. Hess went further as to give a visual sample of savings on housing costs, as well as the tax benefits of home ownership, where property tax and mortgage interest rates are deductible. Surely, this presentation of savings should be able to tap on any renter's interest on owning right now while the market is favoring buyers.

If the mortgage on a property is lower than the monthly rent you are currently paying, a valid question to ask is, " Why not own right now?" Doesn’t it make sense to save and take pride in home ownership at the same time? So, if you are a renter, do ask yourself, buy or rent? I hope this article will start to let you seek the topic of home ownership further.

For a digital copy of this article, click on:

http://www.onlinedigitalpubs.com/publication/?i=40408&p=35

Happy reading!