Forbes Says: 45% Cheaper to Buy Than Rent

Forbes Says: 45% Cheaper to Buy Than Rent

Okay, so I was reading AGAIN!  I know you are all just surprised and shocked.  But this Forbes Article was really worth the read.

It explains how Trulia's Chief Economist, Jed Kolko calculated his findings.  It even has calculations for Los Angeles and other metro areas because obviously the percentage will change with the area.  Once again, ALL real estate is local.  

When you couple this Forbes Article with the blog I read this morning, called Friends Don't Let Friends Rent by Lanise Warrior, you really can see a huge savings here in California.  In her blog, Lanise writes about today's LA Times Article which says that California is second highest in rents.  We are second only to Hawaii, go figure!

Here's a scenario for you.  If YOU purchased a home today for $275,000 and got a 3.5% interest rate, with a larger down, the payments would only be $696 per month.  That is without taxes and insurance figured in.  So with those, approximately $1000 per month.  Now a home rental would be at least $2000 a month.  That's a savings of $1000 per month.  Think of the endless possibilities.

Once again, if you need any questions answered or need help in the area with buying or selling, please don't hesitate to contact me.  I would be honored to help you.  And if you need a FREE HOME EVALUATION, it wold be my pleasure to help you with that as well. Always go with a Realtor You Can Trust! 

Serving the 210 Corridor - the cities of Monrovia, Duarte, Azusa, Glendora, San Dimas, La Verne, Claremont, Upland, Pomona, Chino, Chino Hills, Rancho Cucamonga and Fontana - wherever the need arises.

Warmest Regards,
Linda K. Mayer, Realtor
License # 01767321
A Realtor you can Trust!
(626) 824-8927 Cell
LindaKMayer@live.com
Linda's Website