Buy VS Rent SF Bay Area

San Francisco Bay Area Housing Marketing Renting Versus Buying 2013

With the housing market on its way to prosperity again, consumers are contemplating whether it’s more beneficial to buy a property now or continue renting. To assist with this decision, C.A.R. (California Association of Realtors) has looked at the costs and benefits of renting versus owning property in California and 8 of its local regions over a 7-year period.  The costs of buying include the monthly mortgage payment, insurance, 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.

Buy VS Rent SF Bay Area

For the State of California as a whole, statistics show that consumers can save 32% per month by buying a property.  Home buyers in Sacramento will save 34% monthly and 12% in San Francisco.  However, buying is not the best solution everywhere.  You are better off renting in Alameda and Santa Clara Counties, with monthly rent savings ranging from 711%.

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