At a local level in Fairways Of Lapeer Condo, buyer confidence remains strong with some changes that varies on the price level and what type of houses they are looking for. Particularly in and around 48446 zip code.
As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home.
Today I would like to talk to you about Buying Remains Cheaper Than Renting in 39 States!
In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.
The updated numbers show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!
A study by GoBankingRates looked at the cost of renting vs. owning a home at the state level and concluded that in 39 states, it is actually ‘a little’ or ‘a lot’ cheaper to own (represented by the two shades of blue in the map below).
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One of the main reasons owning a home has remained significantly cheaper than renting is the fact that interest rates have remained at or near historic lows. Freddie Mac reports that the current interest rate on a 30-year fixed rate mortgage is 3.91%.
Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.
Bottom Line
Buying a home makes sense socially and financially. If you are one of the many renters who would like to evaluate your ability to buy this year, let’s get together and find you your dream home.
Source: KCM Donald Horne Blog
To protect your interests and assure that you make the best possible decisions, it’s important that you have a knowledgeable agent on your side who is an expert in the local real estate market.
We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed and the most updated strategic view for your home purchase in Fairways Of Lapeer Condo.
To reach us, please call 810-338-0628 or send us an email at teamsuccesslisting@gmail.com
Search for the newest listings in Fairways Of Lapeer here.
Once you locate a property from the list that you wish to see, please feel free to contact us to schedule any showings. We do suggest driving past each property to verify that the “area” is also what you’re looking for prior to scheduling an interior showing. Thank you for contacting us to be your representing Broker and we look forward to assisting you in finding your next new home.
Donald Horne, Broker / Owner
Team Success Listing LLC
teamsuccesslisting@gmail.com
810-338-0628