Are You Wondering if This Is the Year To Buy a Home?
Are You Wondering if This Is the Year To Buy a Home? Every year, many renters ask themselves the same question: Should I continue renting , or is it time to buy a home ? If you’re a renter, chances are you’ve asked yourself that question at least once, and it’s likely because you’ve faced an increase in your monthly housing costs over time. After all, according to Census data, rents have risen consistently for decades. To make an informed and powerful decision, the first step is understanding what’s happening in today’s housing market so you can determine which option is the better long-term financial decision for you. Rents Are Going Up Again This Year Rents are skyrocketing right now. Data from realtor.com shows just how much rental prices are surging throughout the country. The graph below highlights rental unit price increases over the past year: If you’re a renter and plan on signing a new lease, your monthly costs are likely to go up when you do. Those rising costs can...