Rent Vs Buy In 2014

Dated: 07/31/2014

Views: 358

Rent vs. Buy in 2014

The rent vs. buy decision often is a lifestyle choice and a matter of timing. While mortgage rates are rising, most mortgages have a fixed interest rate, so payments are stable and long-term values grow, which is an investment consideration for potential buyers. Rents tend to trend up, and are expected to rise in 2014, but landlords are responsible for all maintenance costs. While owning a home comes with yard work, repairs and insurance costs, there are also significant tax benefits available to homeowners.Areas with positive job and population growth are more likely to have good prospects for home price growth in the year ahead; buyers in weak markets need a longer term view.For people who plan to stay only a few years, or have insufficient cash, renting is often the best option. In many areas today it is still cheaper to buy than rent a comparable home, and the long-term benefits of homeownership often outweigh the benefits of renting.Story Springboard• Local Market ConditionsTalk to a Realtor® about the health of the local economy. Ask how home prices and rents are trending in your local area. Talk to consumers about the impact of rising rents on their home buying decisions.
Blog author image

Jeri Patrick

In today’s complex and difficult real estate market you need a professionals who will do whatever it takes to market and sell your home. Jeri Patrick has a team with an established history of succes....

Want to Advertise on this Site?

Latest Blog Posts

Feb 21 2018 5018 1

80% of Renters Believe Homeownership is a Part of Their American DreamAccording to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of

Read More

Feb 20 2018 5018 1

2 Ways to Get the Most Money from The Sale of Your HomeEvery homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the

Read More

Feb 19 2018 5018 1

Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!Whether you are buying or selling a home it can be quite the adventure, which is why you need an

Read More

Feb 16 2018 5018 1

Should I Wait Until Next Year to Buy? Or Buy Now? [INFOGRAPHIC]Some Highlights: The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices &

Read More