21 October 2015

Tips For Tooele Home Buyers #3

Todays tips for Tooele home buyers talks about buying a home in Tooele County. It is cheaper than renting.

Plus.... there are other benefits as well. If you are considering what is best for your family and your circumstance here are some articles from industry professionals from all around the country. Berna posted the first one on Face Book last week.

I think you will find from reading what they have to say, It does not matter where you live, with few exceptions, buying a house is better than renting.

Hope you find these tips beneficial. 

Buying a Home Remains 35% Less Expensive than Renting! | Keeping Current MattersIn the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage throughout the 100 largest metro areas in the United States. The updated numbers actually show that the range is from an average of 16% in Honolulu (HI), all the way to 55% in Sarasota (FL), and 35% Nationwide!

The other interesting findings in the report include:

  • Interest rates have remained low and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation. “In the past year, these two trends have made homeownership even more affordable compared with renting.”

  • Some markets might tip in favor of renting if home prices increase at a greater rate than rents and if – as most economists expect – mortgage rates rise, due to the strengthening economy.

  • Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.  

Bottom Line

Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year, lock in your housing cost with a mortgage payment now.


Not convinced yet? Take a look at these. 


Hey Young Folk, It's Cheaper To Buy A Home Than Rent One


Even so, the conclusions are hugely encouraging: Out of America's 100 biggest housing markets, only two -- Honolulu and Silicon Valley -- showed a higher price for buying a home vs. renting one. Everywhere else, the costs ...

Read more ...


Buying a Home 38% Cheaper Than Renting – But How ...


Buying ranges from being just 5% cheaper than renting in Honolulu to being 66% cheaper than renting in Detroit. But even for a specific market, the cost of buying versus renting depends on how much home prices rise (or fall) ...

Read more ...

How Much More It Costs to Buy Instead of Rent a Home in ...


It depends on a number of factors, and homes sometimes don't appreciate as much as one may think. Real estate consultant John Burns actually quantified how much more it costs to buy versus rent a home in 21 U.S. cities.

Read more ...

Need more help? Still not sure you can swing it? Call me Berna Sloan 435-840-5029.

I can show you how you can qualify, where you should buy, what you can afford, and how to quit paying the landlord, Best of all I can show you how buying a home in Tooele County is cheaper than renting.

This post was originally published on www.tooelehomes4sale.com.  

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