Rents Rising in 78% of Counties Nationwide, Making Homeownership The More Affordable Option
Laying in bed, wondering if you should buy a home, it can be daunting, but hopefully these few articles will shed some light on it!Most renters put off buying a home because they think renting is more affordable than buying their own home. But with rents rising across the nation at historic rates, homeownership is becoming the more affordable option. According to a recent Market Outlook Report from Realtor.com, in 2017 rents rose year-over-year in a whopping 78% of counties across the US. These sometimes drastic increases in rent are eating up more of renters' budgets and often making renting more expensive than purchasing. According to a recent study by Zillow, homeownership has become more affordable than renting in the majority of metro markets across the US. According to the study, the average renter pays nearly 30% of their income towards rent. The average homeowner pays significantly less, with only 15.4% of their income going towards their mortgage. In other words, in many markets, renting compromises nearly twice the income of owning a home.
If you're renting as a way to save money, it's time to rethink your strategy. Owning a home is a long-term investment strategy that can help you build your wealth. And with rising rents, it might be the more affordable option as well.
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Patricia !!!!! "RahRah"
I have been a 5 star Realtor® and mentor of Real Estate for 25 years in the Bellevue/Seattle Area of Washington State, My goal is to provide the best service, so you will happily refer me to your friends, family and co-workers. So if you are in need of a Top Realtor® or need a mentor/coach, to up your sales and bring more positivity into your life...Let's talk!
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I am a podcaster, motivator, mentor and a Inspirational Realtor® based in Seattle, Washington who love's moving people with heart.
In addition to being a Realtor and mentor in Seattle, Wa. I am an advocate for buyers and sellers nationwide, and will personally screen and help you choose the best Realtor® if you are relocating around the US or Canada, (from my vast network nationwide) for your specific wants and needs. It's personalized! So contact me at Patricia@patricialove.com
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