Infographic by KCM Crew
There are many benefits to homeownership. One of the top benefits is protecting yourself from rising rents, by locking in your housing cost for the life of your mortgage.
To rent a Home or Buy a Home
A recent article by Apartment List addressed rising rents by stating:
The article continues explaining that:
“Despite the seasonal slowdown, rents are still up year-over-year in 89 of the 100 Largest cities.
Additionally, the Urban Institute revealed that,
“Over a quarter of renters, or 11.1 million households, are severely cost burdened, spending at least half their income on rental housing.
These households struggle to save for a rainy day and pay other bills, including groceries and healthcare.
It’s Cheaper to Buy Than Rent
As we have previously mentioned, the results of the latest Rent vs. Buy Report from Trulia shows 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 6.5% less expensive in San Jose (CA), all the way up to 57% less expensive in Detroit (MI) and 37.4% nationwide!
Know your Renting Vs. Buying Options
Perhaps you have already saved enough to buy your first home. A nationwide survey of about 24,000 renters found that 80% of millennial renters plan to eventually buy a house, but 72% cite affordability as their primary obstacle. Aside from affordability, one in three millennial renters have concerns about their credit scores, and another 53% said that a down payment is an obstacle.
Many first-time homebuyers who believe that they need a large down payment may be holding themselves back from their dream homes. As we have reported before, in many areas of the country, a first-time home buyer can save for a 3% down payment in less than two years. You may have already saved enough!
Maryland Real Estate Bottom Line
Don’t get caught in the trap that so many renters are currently in. If you are ready and willing to buy a home, find out if you are able. Let’s get together to determine if you can qualify for a mortgage now!
We believe every Family should feel confident when buying a Maryland Home for Sale or Renting a Maryland HomeBack to top of page
Carlos Gautier Realtor
Homes for Sale Indian Head MD 20640 | Homes for Sale La Plata MD 20646 | Homes for Sale Port Tobacco MD 20677 | Homes for Sale Bryans Road MD 20616 | Homes for Sale Bryantown MD 20617 | Homes for Sale Cobb Island MD 20625 | Homes for Sale Hughesville MD 20637 | Homes for Sale Pomfret MD 20675 | | Homes for Sale Waldorf MD 20601, 20602, 20603, 20604 | Homes for Sale Bel Alton MD 20611 | Homes for Sale Benedict MD 20612 | Homes for Sale Faulkner MD 20632 | Homes for Sale Issue MD 20645 | Homes for Sale Marbury MD 20658 | Homes for Sale Nanjemoy MD 20622 | Homes for Sale Newburg MD 20664 | Homes for Sale Swann Point MD 20645 | Homes for Sale Welcome MD 20693 | Homes for Sale White Plains MD 20695 |
20640 | 20646 | 20677 | 20616 | 20617 | 20625 | 20637 | 20675 | | 20601, 20602, 20603, 20604 | 20611 | 20612 | 20632 | 20645 | 20658 | 20622 | 20664 | 20645 | 20693 | 20695 |
Sorry! No results were found for your search. Your search may be too restrictive - try loosening up your parameters (i.e., don't require items like Waterfront or View). Some property types do not contain all fields (i.e., multi-family homes do not list number of bedrooms).
You can go back and modify your search.
Dont Mis a New Listing Again!
Already registered? Login
FREE AUTOMATED EMAIL UPDATES
Sign in to take advantage of all this site has to offer. Save your favorite listings and searches – also receive email updates when listings you like come on the market for free!
*Contact Information NOT Shared*
How Do I Search For Homes? How do I save listings and Searches for Free Listing Updates?
Click Here for More Information
White Plains, MD 20695
© 2018 BRIGHT, All Rights Reserved. Information deemed reliable but not guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Remax participates, and is provided by BRIGHT through a licensing agreement. Real estate listings held by brokerage firms other than Remax are marked with the IDX logo and detailed information about each listing includes the name of the listing broker. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated on 2018-03-17.