Disclaimer: Talking to a Mortgage Broker is still the optimal way to explore your options. They can analyze your specific situation and show you your options while discussing what your long term goals are.
Thinking of buying a home in Contra Costa County? This is the time to really look through our finances and if you are tracking your finances on a yearly bases, you’ll see an overall perspective on what you are spending your money on and what has generated a return. So, while FB users are participating in the “How Hard has Age Hit Me Challenge,” we challenge you to the “How Hard Has Renting Hit Me Challenge!”
If you are facing the difficult decision between renting and homeownership in the Bay Area, you are not alone. Everyone’s personal situation is unique and therefore there is no one correct answer. What is even more challenging is trying to navigate your options without becoming completely overwhelmed.
Good news…our friends at Realtor.com have a rent vs. buy tool! All you do is enter your current rent and proposed purchase price of a home. The advanced tool option allows you to edit items such as down payment and interest rate to make it more specific to your situation. Then you hit calculate and you quickly see an overview of your options. Here are a few examples of the graphs and stats that they provide: