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Some Highlights:Historically, the choice between renting or buying a home has been a close decision.Looking at the percentage of income needed to rent a median-priced home today vs. the percentage needed to buy a median-priced home the ch. 87 Real Estate Infographics + How to Make Your Own & Go Viral – The Close Search homes for sale in <>.
A nationwide buy versus rent index is moving deeper into the "buy" territory, indicating that housing markets across the country are strong.. Source: Rent vs. Buy? This Index Says Definitely ‘Buy’ | Realtor Magazine. Posted by Mortgage Masters Group at 3:28 PM No comments: Email This.
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To many new households, the issue of rent versus buy is really about buying now with a small down payment versus renting now and buying later with a larger down payment. This is the way I designed my calculator 6a, Down Payment Calculator: Small Down Payment Now or Larger One Later (Buy Versus Rent).
After saving up for a long time, I recently bought a home, which caught some of my friends off guard. "I thought you were anti-homeownership," they said, because I think renting is underrated. Even as a homeowner, I still think renting is underrated. That doesn’t mean buying is a bad decision. The rent vs. buy debate is just silly overall.
When buying a home a person may also have the type of pet that they prefer without worrying about restrictions, additional deposits, or rental fees. An additional reason to buy a home is the tax deductions. Mortgage interest on up to $750,000 of mortgage debt is typically tax-deductible for both state and federal taxes.
So do we now need a crash in the housing market to level the playing field once more? Are crazy house prices creating a new generation of renters unable to buy? Send us your experiences – have you.