That's according to Chief Economist Jed Kolko at Trulia, where they conducted in-depth research on the matter and compared cost of renting vs. cost of owning in 100 major metro areas.
Trulia based their analysis on asking prices and rents during the summer of 2012, and have found that buying is now 45% cheaper than renting in the 100 largest U.S. metros, on average – which would equate to a savings of over $770 per month. In Fairfield County, the difference averages $1,172 per month in saviings when you buy instead of rent.
We service most of Fairfield County and would be happy to help you save money by buying a home, and forgetting about those landlords once and for all.
When you buy a home, you can literally save hundreds of dollars a month as opposed to renting. If you can manage to take advantage of today's low mortgage rates, live in the house for at least seven years, and remember to itemize your tax deductions. Read the full article from Trulia here.
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