Renting vs. owning is a common debate among millennial buyers. Here’s what they should know.
The topic of renting vs. buying a home has become much more relevant in our market as of late.
In the last few years, millennials’ have been purchasing homes at a much higher rate than in the past. As they become more and more of a home buying force in the market, it’s important that they are educated on the differences between buying and renting a home.
The best way to do that is by connecting with a great mortgage lender. The folks who we partner with over at Gaylord Hansen do a great job of sitting down and walking millennials’ through the process of buying a home, the costs involved, and the advantages of owning a home long-term.
In San Diego, owning real estate is still a very good investment to make. For example, if you bought a home at the peak of the market and held on to it through the great recession until now, you’d still likely have anywhere from 10% to 20% equity you could cash in on.
The most important thing for buyers is to connect with a knowledgeable agent and/or lender.
If you are out there debating the topic of renting vs. buying in today’s market for yourself, the most important thing is to connect with someone who knows and understands the real estate market. That is where you’ll be able to get the most accurate information for your future.
If you’ve got any questions that we can help answer about home buying or real estate in general, give us a call or send us an email today. We look forward to hearing from you soon.