On this week's video, Erik & Randal will navigate you through the options of buying vs renting a home. For the first time in the Boston area, it's cheaper to buy rather than rent. Surprised?
- Historically, the choice between renting or buying a home has been a close decision.
- Looking at the percentage of income needed to rent a median-priced home today (30%), vs. the percentage needed to buy a median-priced home (15%), the choice becomes obvious.
- Every market is different. Before you renew your lease again, find out if you could use your housing costs to own a home of your own!