To piggy-back on my last blog, this is another take on the subject, which fascinates me, in this area where most real estate seems so expensive for a lot of people.
Trulia’s Summer 2012 Rent vs. Buy Report, which provides information on whether buying a home is more affordable than renting in America’s 100 largest metropolitan areas, found that homeownership is cheaper than renting in all of the 100 largest U.S. metros by a wide margin.
However, relative affordability depends largely on location. Buying a home is 24 percent cheaper than renting in Honolulu, 28 percent cheaper in San Francisco, and 31 percent cheaper in New York, but is 70 percent cheaper in Detroit. However, the actual dollar amount reveals that despite a low 28 percent difference in buying versus renting in San Francisco, the monthly dollar savings is big ($899) because rents and prices are so high in this region.Note: Cost of homeownership assumes that the home is sold after seven years and includes closing costs, maintenance, insurance, property taxes and other costs. Cost of renting includes security deposit and renters insurance. Monthly costs are based on net present value of costs averaged over seven years, and based on the average across all properties listed in the metro area, including those for sale and those for rent, in summer 2012.
More info on this article from Trulia.
Thanks for reading, your comments are always welcome!
Francis
useful links
A noteworthy web site: junk mail reducer: Catalog Choice
3 comments:
This post is informative and i enjoyed reading this blog thanks for sharing.
Riviera Tulum Residencial
There are still a lot of people renting homes/apartments because of the economic crisis. Investing in owning rental property is one phenomenal way to have long-term income. Also, when you are planning to invest in rental properties, there are a lot of factors that needs to be taken into consideration such as the locality of business.
good blog..nice article publishing by you...appreciate on you...thanks for giving detail.
Flats In bhiwadi :-bhiwadi Flats :-bhiwadi Flats BookingBhiwadi Flat” is a company of inspiring individuals, masters in their own respective sphere, who have come together with a very committed common motive to facilitate housing for various segments of the society. RDMR Group is one of the largest and the most trusted real estate sales organization. RDMR Group provides one class solutions in real estate sector. This includes Original Bookings, Investments, Documentation, Transfers, Property survey and Sale-Purchase of Residential & Commercial Plots, Villas, Bungalows, Flats, Independent Floors, Offices, Shops etc in Delhi, NCR.
Post a Comment