Tuesday, 12 January 2016

Is It Better to Rent or Buy a House in 2016?

‘Is it better to rent or buy a house?’ – It doesn’t matter whether you are a single working professional or a married couple with kids, we all ask ourselves this question at some point in our lives. With 2016 already here, some of us are busy wondering what effects the New Year might have on renting or buying a house. 

To settle the matter of renting vs. buying in 2016, the skilled project management team at National Realty Investment Advisors has unearthed some practical points that clearly favor buying over renting. So, let’s have a look at why buying makes more sense:                         

Tempting Home Prices    

Real estate prices have been soaring for many years now, but it is about time to slow down. Buyers are likely to witness tempting home prices in 2016. So, if you have the savings and a stable job, then buying is certainly the right option for you. 

Also Read: Five Mistakes Entrepreneurs Make When Buying Real Estate

Last Chance for Low Rates

Are you anxiously waiting for interest rates to drop in 2016? Unfortunately, you shouldn’t hold your breath. There is even a strong possibility that the Federal Reserve will increase rates by 2017, pushing up borrowing costs and monthly mortgage payments. So, 2016 may turn out to be one of your last chances to benefit from low interest rates.   

Makes Financial Sense

Rents are ever rising, and they will continue to rise in 2016 as well. If analysts at CNN Money are to be believed, buying will remain a better option even if mortgages become more expensive in 2016.  

Do you have questions about owning a home or making a real estate investment? Our team of real estate specialists is here to help you! 

Visit this pagehttp://nria.net/news/ to learn about breaking news in the US real estate market. 

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