Being in real estate I hear Realtors talking all the time that it’s better to own than rent. I know that the general population thinks we say that just ’cause we want to sell more houses. So let’s take a REAL LOOK at why it is better to own than rent. Set the stage: The average price (mean) of a home in San Antonio, Texas is $156,000. Given 30 years at 12 monthly payments on an FHA loan at 3.85% (today’s market rate for outstanding credit score) compared to a rental payment of $1250 (including rental insurance). Using my handy dandy rent v. buy calculator I get the following results in a full comparison:
Owning a home would cost $48,605.94 less than renting.
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Category Archives: Uncategorized
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