Renting vs Buying A Home: Which Is ACTUALLY Cheaper? скачать в хорошем качестве

Renting vs Buying A Home: Which Is ACTUALLY Cheaper?

Sign up for the Experian Smart Money Digital Checking Account Today at http://www.experian.com/graham and get a $50 bonus when you setup direct deposit! Let's talk about which option is cheaper: Buying vs Renting A Home | Add me on Instagram: GPStephan Banking services provided by Community Federal Savings Bank, Member FDIC. Experian is not a bank. Experian Boost® results will vary. Terms and conditions apply. ©2023 Experian See experian.com/legal PROMOTIONAL OFFER: Get FREE STOCKS when you sign up and make a deposit using my paid affiliate link for WeBull: https://a.webull.com/i/GrahamStephan GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER: http://grahamstephan.com/newsletter LEARN MORE ABOUT MY FAVORITE CREDIT CARDS: https://cardonomics.com/i/graham The YouTube Creator Academy: Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://the-real-estate-agent-academy... - $100 OFF WITH CODE 100OFF IS IT CHEAPER TO BUY OR RENT A HOME? DOWN PAYMENT: In most situations, lenders will require you to deposit 10-20% of the purchase price in order to get approved. MORTGAGE INTEREST RATE: The cost of borrowing money the highest it’s been in more than 20 years, at just over 7%. PROPERTY TAXES: This ranges from 0.3% if you’re in Hawaii to as high as 2.5% per year if you’re in New Jersey. INSURANCE: According to Bankrate, the average home insurance costs $1428 per year for a $250,000 home - but, when 66% of homes are said to be underinsured, expect that you’ll pay more like $2200 for a proper policy. REPAIRS AND MAINTENANCE: Over the long term, it’s recommended that you budget 1-2% of the property’s value, every year, for doing these normal repairs. RENTING A HOME: This is fairly easy to calculate: The price you pay is the price you pay - there’s really nothing fancy about it. However, according to a new analysis, in all but 4 major US Cities - renting is cheaper than the cost of buying. After doing the math, here are the overall stats: If you intend on living in your home for less than 10 years, then renting is likely the cheaper option. If you want to manage your cashflow without coming out of pocket a sizable amount of money, then renting is better. The same also applies if you want the flexibility to move on short notice. However, if you plan on living in the same home for MORE than 10 years - buying is typically the better choice. If you want to remodel or upgrade your home - buying is better. And if you want to lock in your payments to invest in the area - buying is better. My personal preference is that - if you’re going to buy something, get something that needs work, fix it up so that it’ll be worth more than what you paid - and then, use that as a buffer so you won’t come out of pocket in the event you need to sell on short notice. Every situation is different and every area will have slightly different numbers - but, for the most part, this rule of thumb should hold true. My ENTIRE Camera and Recording Equipment: https://www.amazon.com/shop/grahamste... For business inquiries, you can reach me at [email protected] *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This is not investment advice.