It is a common question for potential homebuyers to gauge whether buying a home or renting a place is financially the best decision. Figuring out whether it’s better to buy or rent rests on three main factors: Where you live, how long you plan to stay and how home prices compare to rents in the area.
According to Zillow, buying a home is more affordable than renting in nearly two-thirds of metros. Simply put: in today’s housing market, homeownership is a better investment.
In order to truly assess whether buying or renting a North County San Diego property is the right move to make, a few factors must be considered. It’s important to look at location, how long you plan to live in the home, upfront payments, closing costs, insurance, utilities, maintenance, historic and anticipated home value appreciation rates, rental prices, and rental appreciation rates.
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