The Cost of Renting vs. Buying in Atlanta
Before you renew your lease, it’s best to determine whether or not buying would be the better option. Given today’s real estate market and the rising costs of rent, all signs point toward maximizing your monthly housing budget by becoming a homeowner in Metro Atlanta!
Take a look at the infographic from KCM above to see just how drastic the cost difference can be between renting and buying a home. You may be surprised to note that buying costs significantly less! Here are a few more points to consider in your decision:
- Historically, the choice between renting or buying a home has been a tough decision.
- Looking at the percentage of income needed to rent a median-priced home today (28.9%) vs. the percentage needed to buy a median-priced home (15.7%), the choice becomes obvious.
- Every market is different. Before you, your young adult children, or even your retired parents renew a lease again, it pays to find out if leveraging your money buying vs. renting will maximize your money power, especially when money is so cheap and homeowner benefits are still in play!
Post Credit: Keeping Current Matters