Rent or Buy a Boston Area Home?

With both Boston area home prices still at attractive levels and interest rates at all-time lows, now may be the time to buy your dream home. The question renters are always asking is, “is it cheaper to own or to buy a Boston area home?” Stacy Johnson looks at owning versus renting in this short video…

If you need help deciding whether renting a Boston area home or buying a Boston area home is best for your particular financial situation, contact us at Buyer’s Choice Realty for a free, no-obligation consultation.

You might want to check out an article we published earlier this year “7 Reasons to Buy a Boston Area Home in 2013” or an article we published last year about “Buying a Boston Area Home Instead of Renting.” In that particular article, we discussed how in some markets, the break even point is 4 to 5 years, but in other areas, buying a home wins out in less than 2 years. There are wild markets where residents must wait up to 14 years for buying to make more sense than renting.

The analysis took into account a host of factors potential buyers should think about when considering the leap, including the down payment, mortgage and rental payments, buying and selling costs, property taxes, utilities, maintenance costs and tax deductions. The analysis adjusts for inflation and forecasts home value and rental price appreciation.make more sense than renting.

For more tips on buying a Boston area home, check out our Boston Home Buying Tips under the Boston Real Estate Categories in the column to the right.

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