With rising interest rates, folks are now more seriously considering the rent vs. buy options. Buying in Los Angeles County will save you 96.4 percent per month!
The costs of buying include the monthly mortgage payment, insurance and taxes, and improvements and repairs. These costs were offset by the benefits of buying: mortgage interest and property tax deductions, and investment appreciation.
The costs of renting include the monthly rent payment and renter insurance, which were offset by the benefits of renting: the appreciation on investing the down payment in the stock market.
Here is a link to the rent vs. buy calculator for your reference:
Please contact Joan Bang to review your real estate goals at (213) 675-3289 or at Joan.Bang@dilbeck.com.