When it comes to the decision to buy vs. rent there really is no question. Buying is always going to be the best because it is an investment and renting is basically throwing your money away. Think about this... the rent your are paying to your landlord each month is paying for their mortgage. Doesn't it make more sense to be paying off your own mortgage and having the opportunity to sell the home for a profit? I think so.
Not only is it crazy to be paying someone elses mortgage but, according to Stan Humpries, Cheif Economist at Zillow, the "historic levels of affordability make buying a home a better decision than ever, especially considering rents have risen more than 5% over the past year." So why not put the same amount of rent into purchasing a home that in the years to come will bring you a profit rather than an empty bank account and nothing to show for it.
Check out the links below for more info on buying vs. renting!
Rent vs Buy? With rents on the rise, New Yorkers do the math.
Forbes: Should your rent or own?
FREE Mortgage Calculator
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