Tagged : renting

Found 4 blog entries tagged as "renting".

housemoney_volff_450homes.yahoo.com - When it comes to housing, you may be surprised to find that the cheaper option is to buy rather than rent.

Buying a home might seem like a huge expense, so it's easy to convince yourself that you'll be stuck renting for the rest of your life. But in many cases, getting a mortgage can turn out to be a lot cheaper than what you would spend paying rent month after month.

In fact, a recent study by real estate site, Trulia, shows that "homeownership remains cheaper than renting nationally and in all of the 100 largest metro areas." In fact, buying a home is about 38 percent cheaper than renting, according to the study.

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househill_sellingpix_450homes.yahoo.com - The Federal Housing Administration (FHA) recently enacted a rule change allowing borrowers who have fallen into foreclosure, bankruptcy, or a short sale to become eligible for a brand new mortgage backed by the FHA in as little as one year from the date of their previous foreclosure auction, the date of closing on a short sale, or the discharge date on a Chapter 7 bankruptcy. Considering the previous waiting period for a government-backed mortgage was three years, the new rule that shortens the wait to one year is a shiny new present to buyers who had all but accepted the reality of becoming renters for the foreseeable future. The new rule is in effect till Sept. 30, 2016.

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Home price gains may be outpacing increases in rent, but the cost of being a homeowner is still much less than that of a renter, according to Trulia’s Winter 2013 Rent vs. Buy report.

After factoring all cost components including transaction costs, taxes, and opportunity costs, Trulia found buying a home is 44 percent cheaper than renting, down slightly from 46 percent a year ago.

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A new analysis released by real estate marketplace Zillow revealed that for most buyers who intend to spend at least three years in a home, buying is a better option than renting.

An analysis of the “breakeven horizon” in more than 200 metros and 7,500 cities showed that in more than 75 percent of metros examined, a homeowner would break even after owning a home for three years or less.

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