When is a Good Time to Rent?
People often ask if now is a good time to buy a home, but nobody ever asks when a good time to rent is. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent. The Census Bureau recently released their 2017 first quarter median rent numbers. Below is a graph showing rent increases from 1988 until today:
The graph illustrates that rent prices have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead.
Bottom Line: One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, contact us at hfamiami.com/homebuyers, hfa@hfamiami.com, 305-594-2518. You may also meet with a local real estate professional who can help determine your homebuying qualification!
