To rent or own?

I just received some information from Trulia’s second quarter “Rent versus Buy” index, and it backed up what I’ve known to be true: It is usually more affordable to buy then rent in 78% of the cities studied, compared to 72% last quarter.

The study compared the cost of buying and renting a two-bedroom apartment, condo, or town home in the 50 largest cities in the country.

They noted that rising rental costs, falling home prices, and low mortgage rates have made home ownership make more financial sense in most areas of the country. This is true for most people in Androscoggin County, too, and I expect this trend to continue.

The report stated the cities where renting was a less costly option than home ownership were in New York, Fort Worth, Texas, and Kansas City, Mo.

One good reason not to move away! Call me to help you analyze the differences in cost, specific to your individual situation.