Why Buying Beats Renting Today

Buying Beats Renting. Here's Why:

Buying a home in the Puget Sound area beats renting in less than two years, according to a new study. The “breakeven horizon” – the number of years after which buying is more financially advantageous than renting – is 1.9 years.

Why the short timeframe?

Interest rates are at historic lows. (But experts expect them to rise soon.)Rents are at record highs.If you paid the average cost of monthly rent towards a mortgage payment instead, here’s what you could buy:Based on principal & interest on a 30 year mortgage at 4% interest with 0% down.

Bellevue Monthly mortgage: $2,666 Home value: $558,400

Seattle Monthly mortgage: $2,401 Home value: $502,900

Snohomish County Monthly mortgage: $1,884 Home value: $294,600

Are you ready to invest the money you spend on rent to buy a home?

Get in touch with us so we can help you take advantage of the “breakeven horizon” and turn your monthly rent into a mortgage payment.