If you need assistance, please call 480-845-0048

Buying is 40 percent cheaper than renting

Thursday, October 19, 2017   /   by Ellie R.T.

Buying is 40 percent cheaper than renting

We like to keep you informed about what is going on in the housing market, and right now, the update is easy: It's still a seller's market. Supply is still low. Home prices are still climbing. 

We talked to a client recently who wanted to break into this market, but was a little discouraged with these climbing prices. This had them considering renting instead of buying. 

It's important to know, however, that the cost to rent has been climbing right along with these home prices. In fact, here in the Phoenix area, it is 38.5 percent cheaper to own a house than it is to rent, according to Trulia's October Rent vs. Buy report

October 2017 newsletter.jpg

If you buy you also benefit from equity buildup, home value appreciation and even some tax benefits.

In this market, if you can afford to rent, you can typically afford to buy. We also work with some great lenders who have fantastic loan products if you don't feel you have enough money saved up for a down payment.   

Some potential buyers are also hoping to wait out this seller's market before they buy. However, there are no signs of home prices decreasing anytime soon. In fact, some sources are projecting that home values will continue to appreciate for a couple more years. 

You can also find in the news that the valley is among the top places in the country to buy a family home right now. 

In any of these scenarios, finding a good real estate agent can be one of the best financial decisions you can make! Please reach out to us so we can help you find the best deal on the right house, get top dollar on your home sale, or find out how you can buy instead of rent.

  elite results realty, real estate market, selling a home, buying a home, seller's market

My Home Group
Rob Hale
1744 S Val Vista #206
Mesa, AZ 85204

© 2024 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Rob Hale - My Home Group are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. July 18, 2024
This site powered by CINC: www.cincpro.com