Studies Review Home Ownership vs. Renting
One cornerstone to making real estate decisions is the question, “Will this transaction make financial sense?” Thus the question, “Should I buy or should I rent an apartment in Logan Ut.?” Perhaps you’ve seen studies and analysis comparing the value of homeownership vs. the costs of renting. Some of this research tries to factor in the emotional value of homeownership, while other examinations consider only the pure financial data. One such study was published in the March issue of REALTOR® Magazine.
The research showed an index prepared by Trulia, comparing the costs of renting a median 2 bedroom apartment, condo, or town home vs. the purchase of a median 2 bedroom house. History has shown that most often, renting costs less – in part, because renting does not provide many of the emotional benefits of homeownership. However, times are different today. The researchers found that in 72% of the U.S. target cities, buying a home is cheaper than renting.
In todays market, it seems that multiple factors have combined to make real estate purchasing not only affordable, but wise. The answer to the cornerstone of real estate questions is apparently, “Yes, the purchase of a home makes more financial sense than renting apartments in Logan Ut.”