Q: Are rents rising so high that home buying becomes a viable option for many tenants?
Bob’s Answer: YES
With today’s interest rates, it pays for most people to buy a home with today’s rapidly rising rents. However, having an available down payment, the ability to qualify for a mortgage, taxes, insurance and association fees as well as money for home repairs must be considered. Although owning a home is still a great American dream and might have potential tax advantages, it must be weighed against personal finances.