On the Fence?
If you are still on the fence, consider this article from Keeping Matters Current.com ”
In a recent Insights Blog, CoreLogic reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased.
“CoreLogic’s national rent index was up 36% in December 2018 compared with December 2005, while the typical mortgage payment was down 4% over that period.”
Why the difference between the costs of renting versus owning?
It makes sense that rents have risen. However, how did mortgage payments decrease? CoreLogic explained:
“It’s mainly because mortgage rates back in December 2005 were significantly higher, averaging 6.3% for a fixed-rate 30-year loan, compared with 4.6% in December 2018.
The national median sale price in December 2005 – $190,000 – was lower than the $220,305 median in December 2018, but because of higher mortgage rates in 2005 the typical monthly mortgage payment was slightly higher back then – $941 – compared with $904 in December 2018.”
Additionally, a recent report by the National Association of Realtors (NAR) showed that purchasing a home requires less of your monthly paycheck.
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2282 Rolling Trail Lithonia GA 30058 | 3 Bedrooms, 2 full & 1 half Bathrooms|$201,898 –Basement Home!! Thoughtfully designed 3BDRM/2.5 Bath Maxwell floorplan with DAYLIGHT BASEMENT. Detail designed spacious kitchen featuring granite countertops/breakfast bar and 42″ cabinets. Open entertaining floor plan, hardwood floors on main with fireplace. Private fully fenced backyard with patio. Bedroom level offers large master with separate garden tub and glass enclosed shower. 2 secondary bedrooms, guest bath and laundry. Walking distance from shopping, fitness center and dining.
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Award Winning Rocklyn Homes is one of Atlantas Top Homebuilders in the Atlanta Business Chronicle. Ranked Nationally at #87 in the 2018 Builder 100 List by Builder Magazine. Rocklyn builds quality single-family homes and townhomes with award-winning plans in the Metro Atlanta area from the mid $100s to $400s.