Is Now a Good Time to Rent? NO!

Rents continue to rise in Southwest Florida.  Many new rental communities are being built but the monthly rent rates they are charging are very high.  Yes they offer amenities but why throw your money away every month?  With low interest rates, at least for the moment, and a lot of inventory in our area, it makes sense to look into buying a home instead of continuing to rent.  Each mortgage payment you make adds to your equity in your home, each rent payment you make adds to your landlord’s equity in his property?  Which is better and probably less expensive per month?  Owning your own home, so let’s get together and discuss your options.

Courtesy of Keeping Current Matters 2018

Is Now a Good Time to Rent? | MyKCM

People often ask if now is a good time to buy a home, but nobody ever asks when it’s a good time to rent. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent.

The Census Bureau recently released their 2017 fourth quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

Is Now a Good Time to Rent? | MyKCM

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead.

Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, let’s meet to determine if you are able to today!

 

 

Comments are closed.