Cost of Buying vs. Renting a Home

You’ve heard it said many different ways:

  • “Don’t throw away your money on rent!”
  • “For the amount of money you spend on rent…”
  • “Buying makes more sense than renting.”

Is any of it really true? Of course, but if you need a visual aid to help you understand the advantages of buying vs. renting, we suggest this buy-rent-calculator published in the New York Times. It demonstrates how renting may make sense at first, but over time, annual home price changes and rent adjustments make it far more sensible to invest in buying a home.

Of course, the record low prices right now should make the decision even easier. For instance, our Pennsylvania new homes are currently being offered at a 20% discount on the original price. This means a savings of anywhere from $30,000-$95,000 on a beautiful new home in the glorious countryside settings of Central Pennsylvania (we also offer communities in Maryland). For those looking to buy outside of the area, there’s still good news: Builders are lowering prices on new homes across the country.

To learn more about the advantages of buying vs. renting a home, contact Keystone Custom Homes today. We will be glad to discuss your homebuying options.