If you look what renters are paying in rent, and all the programs, great rates, and great inventory of homes… it makes more sense for renters to start looking towards homeownership!  Simply put… you can get a bigger bang for their buck if they buy today!!

Following are the top 5 reasons why it’s better to buy than rent

1. Buying doesn’t always cost much more than renting. According to a recent study by the Associated Press, the gap between monthly mortgage payments on a median-priced home and the median rent has decreased from $777 to just $221 in the last three years.

2. Affordability is at an all-time high. In markets across the nation prices have declined by nearly 40%.

3. Buyers can purchase homes with little or no down payment. Qualified first-time buyers may be eligible for loans insured by the Veterans Administration (VA), which does not require a down payment. Another loan product gaining popularity are those insured by the Federal Housing Administration (FHA), which require only a down payment of 3.5%.

4. Mortgage rates are at all-time lows. Take advantage of low 30 year fixed rates.

5. It’s yours. It feels good to own your own home. After all, you can paint it any color you want, make improvements, and plant a little garden.

For more information contact me at paul@idahorealtyinfo.com or 208-288-2976.