Looks like it’s becoming harder and harder to be a renter in the US.
The latest rent report from RENTCafe is in, and while the news is not so good for those who currently rent their home, it is very positive for those looking to own in 2019. The national average rent in March was $1,430, which is up 3.2 percent over the same period last year. That is an increase of $44 dollars a month on average, all across the country!
Rents are also up in 92 percent of the nation’s biggest 253 cities. That includes Chicago, Indianapolis, and Milwaukee. Only 2 percent of these cities saw rents decrease over the year! In case you don’t like doing math (which we totally get, by the way), that comes out to…five cities. Yikes.
At d’aprile properties, we look to educate our clients, ensuring that they understand not only the home buying process, but all of the benefits of home ownership as well. Because the truth is, saving money is just the beginning.
PRIDE – A renter simply cannot experience the sense of pride and freedom that comes with home ownership. The homeowner has no landlord, no rent payments, and no one to answer to. A homeowner gets to decorate and maintain their home however they may choose, experience the joy of owning a pet, and relax in their own yard with a feeling of accomplishment.
PRIVACY – It’s hard to put a price on peace and quiet. As any renter will likely tell you, sharing walls with other tenants can be awkward at best, and downright annoying at worst. Plus, a landlord can at times have unfettered access to your living space. Owning a home provides safety and security, as well as peace of mind.
POTENTIAL – Perhaps the most significant benefit of homeownership is the opportunity to build equity. Keep this in mind: even if you’re currently renting, you’re still paying a mortgage. It simply belongs to someone else. Owning your home means that each month you’ll be putting money toward your own valuable investment, instead of in your landlord’s pocket.
We would love to be a part of your home ownership dream. Get started by clicking on our logo below. We’re here for you every step of the way.