Rent vs. Buy Archives - Page 6 of 9 - The Monica Foster Team

The True Cost of Not Owning Your Home

November 26, 2019 - General Information

There are great advantages to owning a home, yet many people continue to rent. The financial benefits are just some of the reasons why homeownership has been a part of the long-standing American dream. Realtor.com reported that: “Buying remains the [...] Read More

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Monica Foster November 26, 2019

The Cost of Renting vs. Buying a Home

November 15, 2019 - General Information

Some Highlights: Historically, the choice between renting and buying a home has been a tough decision. Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), [...] Read More

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Monica Foster November 15, 2019

Think Prices Have Skyrocketed? Look at Rents.

October 24, 2019 - General Information

Much has been written about how residential real estate values have increased since the housing market started its recovery in 2012. However, little has been shared about what has taken place with residential rental prices. Let’s shed a little light [...] Read More

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Monica Foster October 24, 2019

What Is the Cost of Waiting Until Next Year to Buy?

September 27, 2019 - General Information

Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac forecasts interest rates will rise to 3.8% [...] Read More

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Monica Foster September 27, 2019

Homeowners Are Happy! Renters? Not So Much.

September 26, 2019 - General Information

When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable. In a recent survey, [...] Read More

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Monica Foster September 26, 2019

One of the Top Reasons to Own a Home

September 19, 2019 - General Information

One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month [...] Read More

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Monica Foster September 19, 2019

A Great Way to Increase Your Family’s Net Worth

August 19, 2019 - General Information

Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016. The study revealed that the median net worth of a homeowner is $231,400 – a [...] Read More

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Monica Foster August 19, 2019

Rent Vs. Own

August 9, 2019 - General Information

Some Highlights: Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space. Whether you rent or own, you have to cover someone’s [...] Read More

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Monica Foster August 9, 2019

Millionaire to Millennials: The Costly Mistake of Not Buying Now

August 5, 2019 - General Information

On his personal website, self-made millionaire David Bach makes a striking statement: “Not prioritizing homeownership is the single biggest mistake millennials are making.” He further stated, “Buying a home is an escalator to wealth.” Bach explains: “Young adults in particular aren’t hopping [...] Read More

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Monica Foster August 5, 2019

Is Renting Right for Me?

July 22, 2019 - General Information

If you’re currently renting and have dreams of owning your own home, it may be a good time to think about your next move. With rent costs rising annually and many helpful down payment assistance programs available, homeownership may be [...] Read More

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Monica Foster July 22, 2019

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