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When Is a Good Time to Rent? Not Now! - Luxury Valley Homes

People often ask if now is a good time to buy a home, but nobody ever asks whether or not it’s a good time to rent. Regardless, we want to make certain that everyone understands that now is NOT a good time to rent.

The Census Bureau recently released their 2018 first quarter median rent numbers. According to their report, here is a graph showing rent increases from 1988 until today:

When is a good time to Rent? Not now!

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead.

Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, let’s meet to determine if you are able to today!

 

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Cost of Renting vs. Buying  Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Cost of renting - Looking at the percentage of income needed to rent a median-priced home today (28.8%) vs. the percentage needed to buy a median-priced home (17.1%), the choice becomes obvious. Every market [...]

 

 

  

Luxury Valley Home Registered TrademarkJane Daley, BA
Jeff Daley, PhD
Luxury Valley Homes - West USA
Scottsdale Real Estate Arizona
Our Luxury Valley Home Team
480-595-6412

Comment balloon 0 commentsJane & Jeff Daley, PhD • June 12 2018 07:14PM
When Is a Good Time to Rent? Not Now! - Luxury Valley Homes
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