Buying Cheaper Than Renting in Most US Cities

According to a recent article on CNN Money, buying is now cheaper than renting in most U.S. cities, making now an excellent time to get out of your old rental and into a brand new home. The study, conducted by Trulia found that "buying was cheaper than renting in 74% of the country's 50 largest cities in July."

Cities where rent remains the cheaper choice included New York City, Seattle and San Francisco. For most of us however, low housing prices, low interest rates and great tax benefits add up to real value in home ownership. For instance, you can own your own beautiful new home in Eagle Mountain, Utah starting at just $170,900.

"It's a personal decision, of course. But if you have a steady job and you are planning to stay for seven years or more and have enough cash to put 20% down and enough left over for seven or eight months of expenses, you're better off buying in most places," said Daisy Kong, a spokeswoman for Trulia.  (Read the rest of the article here.)

If you're still renting and would like more information on how owning a brand new home might work for you, visit a McArthur Homes neighborhood or email kristi@mcarthurhomes.com.