Rent vs. Buy Archives - Page 2 of 3 - Joe Fernald

20240111-The-Dramatic-Impact-of-Homeownership-on-Net-Worth

If you’re trying to decide whether to rent or buy a home this year, here’s a powerful insight that could give you the clarity and confidence you need to make your decision. Every three years, the Federal Reserve releases the Survey of Consumer Finances (SCF), which compares net worth for homeowners and renters. The latest

How To Turn Homeownership into a Side Hustle

December 6, 2023

Demographics, First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy

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Does the rising cost of just about everything these days make your dream of owning your own home feel less within reach? According to Bankrate, many people are seeking additional income through side hustles, possibly to cope with those increasing expenses and save for a home. This trend is particularly popular with younger individuals who

Why Homeowners Are Thankful They Own

November 23, 2023

Buying Myths, First Time Home Buyers, For Buyers, Rent vs. Buy

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Countless people have set out on the exciting journey of homeownership. Ask around and you’ll find the vast majority are thankful they took the leap and bought a home. But why? It’s because of the many emotional and lifestyle benefits that come with being a homeowner. So, if you’re trying to decide if you want

Homeowner Net Worth Has Skyrocketed

November 7, 2023

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Rent vs. Buy

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If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision. Every three years, the Federal Reserve Board releases the Survey of Consumer Finances (SCF). That report covers the difference in

2 Charts That Show the Truth about Home Affordability

November 29, 2017

First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy

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There is a lot of discussion about the current state of housing affordability for both first-time and move-up buyers, and much of the narrative is tarnished with a negative slant. However, the truth is that housing affordability is better today than at almost any time in our history. The naysayers are correct in the fact

The Cost of NOT Owning Your Home

November 27, 2017

Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy

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Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. Zillow recently reported that: “In reality, buying or renting a home is an intensely personal decision,

5 Reasons Homeownership Makes ‘Cents’

November 8, 2017

First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Rent vs. Buy

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The American Dream of homeownership is alive and well. Recent reports show that the US homeownership rate has rebounded from recent lows and is headed in the right direction. The personal reasons to own differ for each buyer, but there are many basic similarities. Today we want to talk about the top 5 financial reasons

Renting or Buying…Either Way, You’re Paying Someone’s Mortgage

October 30, 2017

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Rent vs. Buy

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There are some people who have not purchased homes yet because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical

How to Save on a Mortgage Payment Whether Buying or Selling

October 26, 2017

First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Rent vs. Buy

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In Trulia’s recent report, Rent vs. Buy: Roommate Edition, they examined the impact that renting with a roommate has in determining whether it is more expensive to rent or buy. The study explains: “Since we started keeping track in 2012, it’s been a better deal to buy than rent in America’s largest housing markets – and

The Cost of Renting vs. Buying a Home [INFOGRAPHIC]

October 20, 2017

Buying Myths, For Buyers, Infographics, Rent vs. Buy

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Some Highlights: Historically, the choice between renting or buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (29.2%) vs. the percentage needed to buy a median-priced home (15.8%), the choice becomes obvious. Every market is different. Before you renew your lease again, find