For some people, buying their home makes the most sense, and for others, renting is better. To determine which option is right for you, first you have to determine whether you can afford to buy a home. Then you need to consider other factors, including the time you may stay in your new home, the home’s prospects for appreciation and tax benefits. Buying a home has a numerous advantages that we all are familiar with and number shows that buying a home is 37% cheaper than renting nationally. Naturally, the advantage differs from market to market, but even in the worst markets for buying are still 17% cheaper than renting. This is assuming that the buyer puts approx 20% down payments and stays in the house for approx 7 years. The advantages were as high as 41% in the year 2012 and got low to 34% in the year in 2014. Depending on market condition, this is a moving target as home prices and mortgage rates changes.
To find out if you qualify for to purchase a home call AEM Loan (888) 760-0222.