Housing...it is the biggest expense for many American’s. According to the Bureau of Labor Statistics, it accounts for more than 30% of your yearly household expenditures. Housing costs can vary depending on a few things. First is where you live, and another is whether you own or rent your home.
GOBankingRates surveyed the cost of renting versus owning a home in all 50 states and the District of Columbia, and they found that in the state of Florida, it is a lot more expensive to….Rent. (You can look at how all of the states rate here). In fact, according to GOBankingRates.com, homeowners in Florida, on average, save $398 per month as compared to renters! That's a huge savings!
Mortgage rates are at historic lows, and that makes your monthly mortgage payments significantly lower than rental payments. However, right now, rents are going up considerably. And that makes saving for a down payment difficult. It can be done, though, so if you are a renter, and you are ready to take the plunge into homeownership, give me a call, or shoot me an email. Let’s find you a place to permanently (and lovingly) call “Home”
Michele Boyer, REALTOR