The Takeaway:

• There may have been times in our history where renting was a cheaper option that buying, but that time is certainly NOT now.
• The above graphic clearly demonstrates that the percentage of income needed to rent a median-priced home today is at a national average of approximately 29% of one’s income, vs. the percentage needed to buy a median-priced home being at approximately 17%.  Clearly a “No Brainer”.
• Please be aware that every market is different. Before you consider renewing your lease, do yourself a favour and find out if you could use your housing costs to own a home of your own!! As mentioned in a previous post, “Whether You Rent or Buy: Either Way You’re Paying a Mortgage”

With rents continually rising, why not have fixed housing costs for the next 30 years (or 15 years) and guarantee you are the one building wealth and not your Landlord!!  Call or text me at 727.755.3434 and I would be glad to help!!