"The best deal investment you can make is to buy a primary residence that you're the owner-occupier of"
Great advice for today's prospective buyers from Billionaire John Paulson! Among Paulson's explanations on the benefits of purchasing featured in this KCM Blog article, he explains:
"And you've locked in the cost over the next 30 years. And today the cost of owning is somewhat less than the cost of renting. And if you rent, the rent goes up every year. But if you buy a 30-year mortgage, the cost is fixed."
Contact a Lawyers Realty market expert (717-364-3000) to guide you through the home buying process and help you make your investment!
According to the Trulia Rent vs. Buy Archives it is over 38% cheaper to buy than rent in most metro areas in Pennsylvania. They report that their studies find that buying remains cheaper in all 100 top Metro areas across the United States. However, mortgage rates have slowly risen which has slightly narrowed the gap. Buying vs. Renting is a hyper local comparison because each market is driven by different forces. The cost of buying in Detroit is less than Pennsylvania, and much less than California.
Check out Trulia's nationwide index: