Welcome to the DevoreRealtyGroup.com Blog

2012-08-07 08:55:12
If you are renting, should you buy?

For renters, buying a home pays off after three years on average

A new analysis by real estate website Zillow shows that, on average, a renter thinking about buying a home will reach what it calls the “break-even horizon,” after just three years.  The break-even horizon compares what it would cost to buy or rent the same home in a number of U.S. markets over time.

Some things to note:

  • The analysis takes into account a host of factors potential buyers should think about when considering a home purchase, including the down payment, mortgage and rental payments, buying and selling costs, property taxes, utilities, maintenance costs, and tax deductions.  The analysis adjusts for inflation and forecasts home value and rental price appreciation.
  • Zillow said that the data should help homeowners get a rough and immediate sense of whether buying makes sense in a particular area in relation to their financial situation.
  • Additionally, many analysts believe that a housing bottom has been reached, which may help renters determine if now is the right time to buy. However, analysts also say they are not expecting home prices to return to the same levels as during the real estate bubble.
  • There is also some concern about the strength of the housing recovery, with home sales slowing in June as inventory remained tight and buyers paid higher prices. At the same time, rents are rising, housing affordability is at record levels, and mortgage interest rates remain very low.  These factors are prompting many renters to consider homeownership.



Bryan & Allison Devore

Prudential California Realty

(760) 908-3838

North San Diego County and Carlsbad Real Estate


  • Search for your next home on our website
  • Learn more about Rancho Carrillo in Carlsbad, CA
  • Like” our Facebook page
  • Follow us on Twitter
  • View our listings on YouTube
Blog Archive
2017-04-21 06:42:10
Why are renters staying put?

2017-04-20 06:49:29
Homeowner Value Estimates vs. Appraisals

2017-04-09 07:26:48
San Diego 8th Hottest Real Estate Market

2017-04-03 13:29:11
8 Questions to Ask When Deciding to Rent or Buy

2017-03-31 17:41:05
San Diego rent prices vs. home prices

2017-03-24 13:33:28
Preparing Your Budget for Buying Your First Home

2017-03-24 10:02:40
San Diego home prices dip in February

2017-03-15 17:54:30
County Housing Patterns Shifting

2017-03-03 11:32:47
Where millennials want to live might surprise you

2017-02-27 13:41:52
Misleading Math Behind the Rent vs Buy Calculation

2017-02-24 10:38:59
Older Americans Face Challenges Aging in Place

2017-02-21 15:12:32
Moving Less in U.S.: American Dream Takes a Hit

2017-02-07 13:52:11
Millennials, Housing, and the American Dream

2017-02-01 11:50:46
20 Hottest Markets for U.S. Real Estate in January

2017-01-31 18:13:12
January, February Prime Months to Purchase a Home

2017-01-26 14:47:42
Home Buyer Challenges for 2017

2017-01-19 12:21:59
Nation's Priciest House: $250M

2017-01-13 14:17:03
Are local housing's price gains real?

2017-01-13 12:06:22
Housing Outlook 2017: Eight Predictions

2016-12-30 11:05:38
Trump Win Could Usher in Boom for U.S. Housing

2016-12-19 18:12:11
Is the Starter Home Coming Back?

2016-12-19 17:28:35
Interest rate increased, where will consumers feel

2016-12-19 16:47:51
Step Aside HAMP, There's a New Kid in Town

2016-12-08 17:45:40
Marketwatch Report November 2016

2016-12-08 17:10:21
FHA Loan Limits To Rise in 2017

Click here to see ALL articles.

Comment on this Article

Your Name:
Your Email:
Verify:  Please enter the numbers shown to help eliminate spam.