Real Estate Market Leaders have spoken and they all agree that it is much smarter to buy a home in the Easter Washington Area then it is to be a Tenant. There are some national headlines that use sources like Zillow to look at large cities like Chicago or New York City to compare the cost of owning a home VS the cost of renting a home. However, those larger cities collapsed in the housing market due to the prices of homes rising so fast that nobody could afford their mortgage so the buyers disappeared causing home owners to drop their prices when it was time to sell. However, in the Tri Cities area we have a healthy economy and the benefits of a low cost of living. In fact if you were to tell me how much SQFT you current rental is then I bet you that I can find you a better deal on a home for sale that would cost less then what you are paying for rent.
Does your rental have 3 bedrooms, 2 baths and fenced in yard? Well, if your apartment is charging you $850.00 a month for rent then maybe you should look at your options for buying a home!
With tax season just around the corner maybe buying a new home with your tax refund is a good idea? If you are currently renting a home or apartment then you are throwing away thousands of dollars every year. Well, I guess you are not throwing it away but you are giving it to your Landlord instead of securing that money into your Home. Their are hundreds of Benefits of Home Ownership. When its time to sell or move would you rather pack up and leave with nothing or would you prefer to sell your home and walk away with $50,000 cash in hand to put down on your next home?
Take a look at this chart to get a clear understanding on how much it cost you to be a Tenant over 10 years.