Contrary to popular belief, buying a home isnt always better than renting.
It depends on a number of factors, and homes sometimes dont appreciate as much as one may think.
Assuming you believe rates will rise or at least stay flat, price appreciation might be an aggressive assumption.
And thats better than nothing, which is what youd have with renting.
However, as weve told you before, you also have toconsider the opportunity cost of your mortgage payment.
This isnt always the case, but it rings truer in some markets than others.
Of course, these numbers are based on market averages for each city or metro area.
They also assume a down payment of only 5 percent, which is pretty low.
Obviously, the more money you put down on your home, the less your monthly payment will be.
Still, the data gives you a general idea of what prices look like in those cities.
Check out the graphic at the link below, then head over to the original post for more info.
Homeownership Premium Versus Renting| Real Estate Consulting viaBusiness Insider
Photo byDJ Crazy Gabe.
