Buying Vs. Renting

Despite rising rental rates, buying a home still cost less than renting. Here’s why:   

Rental rates have been rising for the last few years and are continuing to increase across the country. These sharply rising rates are steadily making renting a more expensive option than buying a home. That’s why you’ll notice that monthly rental payment costs are trumping monthly mortgage costs.

Owning a home give buyers an advantage of cost saving tax breaks that renters do not have access to.  Home owners can deduct mortgage interest, property taxes, a percentage of energy efficient upgrades, and more.

According to the Rent vs. Buy Report from Trulia, buying costs less than renting in all 100 large U.S. metros. In fact, homeownership is thirty-eight percent cheaper than renting nationally according to Trulia Chief Economist, Jed Kolko. Low mortgage rates have made homeownership more affordable.

If you’re ready stop renting and buy a home in Phoenix, please contact The Russo Team today. We’ll help make your home buying experience the best it can be!

Frank Russo

Russo Team

RE/MAX Professionals

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