According to information released recently by the US Census Bureau, ”The nation’s homeowners paid a median of $1,000 in monthly housing costs in 2009, compared with $808 for renters, according to data released today by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. However, renters usually paid a higher percentage of their household income on these costs than did owners (31 percent compared with 20 percent).
These new figures come from the 2009 American Housing Survey, the definitive source of information on the quality of housing in the United States. Statistics are provided for apartments, single-family homes, manufactured housing, new construction and vacant housing units.” There are lots more details of the report so we linked it below for you to read.
So, does that mean that it is better to rent a home than purchase since the median price a renter paid for a house is only $880 compared to nearly $1000 for home owners? There are some great benefits for home owners that renters are not able to take advantage of. There are tax benefits, there is the equity benefit, there is the ability to “do what you want” to the property, there is the sheer enjoyment and pride of owning your own home. Check out the rest of the details of the story and you will find that the comparison between renters and homeowners also shows some other interesting information that makes home ownership a great benefit. Here is the link to the full report….
Housing: U.S. Census Bureau Releases Detailed Information on Nation’s Housing; Monthly Housing Costs Reach $1,000 for Homeowners.
If you are moving to Kalamazoo, it may make some sense to rent for a short time before you come so that you can check out the community. There are some furnished and unfurnished options for renting in Kalamazoo and Portage and the Veenstra Team can direct you to the best places to find a place to rent. We have helped a number of people purchase a home immediately upon their move to Kalamazoo as well. We have a good amount of information about the Kalamazoo area, we can spend a day and give a great tour of the Kalamazoo community to someone who is traveling from out-of-town, and now with the technology available via the web, digital photography and video, we can get lots of home shopping done remotely. We again just last month helped someone purchase their new Kalamazoo after living in Thailand for several years. We can communicate and introduce people to Kalamazoo real estate, even when they are living partway around the world via, Skype, video conference, and photography. We are ready to help you in your move to Kalamazoo! Give us a call at 269-350-5514.