It is cheaper to Buy a home in Boise than Rent

Real Estate


It is cheaper to Buy a home in Boise than it is to rent!

 Boise 7


 Thursday December 1st, 2016  First Time Home Buyers, For Buyers, Move-Up Buyers


It is cheaper to Buy a home in Boise than it is to rent!  According to a recent report by Trulia, “buying is cheaper than renting in 100 of the largest metro areas by an average of 37.7%.” That may have some thinking about buying a home instead of signing another lease extension. But, does that make sense from a financial perspective?

In the report, Ralph McLaughlin, Trulia’s Chief Economist explains:

“Owning a home is one of the most common ways households build long-term wealth, as it acts like a forced savings account. Instead of paying your landlord, you can pay yourself in the long run through paying down a mortgage on a house.”
The report listed five reasons why owning a home makes financial sense:

  • Mortgage payments can be fixed while rents go up.
  • Equity in your home can be a financial resource later.
  • You can build wealth without paying capital gains.
  • A mortgage can act as a forced savings account.
  • Overall, homeowners can enjoy greater wealth growth than renters.


Bottom Line:


Before you sign another lease, let’s get together and discuss all your options. See All Boise Homes for Sale Here

 


Article provided by Randall Filbert at The Filbert Real Estate Group at Mountain Realty Boise Idaho

 

 

 

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