Savings of Owning versus Renting

You have to consider a number of things if you are wondering whether you would be better off renting versus owning.  One of the biggest things is how long you plan to stay in the home you buy.  If you are only planning to be in the home a year or two, renting may be your best option.  If you plan to stay in the home 5 years or more you will probably be better off buying.

Here are several links to some research that was done to help you decide what is best.  These links take you to the Government National Mortgage Association (Ginnie Mae) website:

Buying Versus Renting

Buying Versus Renting Comparison Chart

Buying Versus Renting Calculator

If you play around with the calculator you can see that there is a huge advantage to owning a home versus renting if you plan to stay in the home for a while.  If you have further questions about this feel free to contact us at alice@aliceray.com or by calling Alice directly at 919-906-5794.

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