MORE EXPENSIVE TO RENT!

Guest Blog Post BY:
By: Nicole Hale
Aapex Financial Solutions
http://www.aapexfinancial.net/
http://www.aapexfinancial.blogspot.com/

Still thinking about buying a home?

Here is some interesting data that may help you make up your mind.

In 72% of the largest US cities, it is CHEAPER to BUY a home than RENT! So when people refer to renting as throwing your money away, they really mean it.

Trulia, a San Francisco based company, conducts an annual Rent Versus Buy Index which compares the costs of leasing and buying 2 bedroom homes in the 50 largest US cities.

In only four of those 50 cities is it cheaper to rent than to buy: New York, Seattle, Kansas City (MI), and San Francisco.

Rent is up so high simply due to the law of supply and demand. In 2010, there was a 2 percent gain from 2009 with 2.87 million homes that received notices in foreclosures, auctions or repossess. Many past homebuyers have fled the market and went into the renting avenue, therefore increasing the demand and price for rentals.

This means one thing, now is a great time to buy if you are financially able because it’s cheaper than renting and it earns you credit and equity.