Rent vs. Buy
- Historically, the choice between renting or buying a home has been a close decision.
- Looking at the percentage of income needed to rent a median-priced home today (30%), vs. the percentage needed to buy a median-priced home (15%), the choice becomes obvious.
- Every market is different. The information here is from national real estate research. Before you renew your lease again, find out if you could use your housing costs to own a home of your own! From a local perspective Scottsdale real estate can help you with the numbers to make an informed decision.
"Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes.”
This article (Rent vs. Buy) is presented by the Luxury Valley Homes team.
Jeff Daley is a decorated Vietnam Veteran that supports veterans and veteran issues when possible.