If you are trying to decide whether or not you should rent or buy in today's economy, I ran across this great little tool that can HELP you analyze what might be best for you.
I say "HELP" you analyze what is best because in order for it to be anywhere near accurate, you will have to do some research on each of the variables that are required for it to make a calculation. You will also need to have at least some idea about how long you want to "settle" down in the area you are considering renting or buying in.
What the calculator will do for you (if you input correct variables) is tell you at which point owning becomes better than renting (if ever). So if you plan to be in an area for only 3 years, and the calculator suggests that owning doesn't become better than renting until the 7 year mark, it may just make more sense to rent than own.
As I mentioned before, in order for the calculator to be helpful at all, you will need to input accurate, or at least reasonably educated guesstimates for the variables. If you are considering a purchase in the Salt Lake City, Utah Area, feel free to call me at 801-969-8989 if you need help with any of the variables.
Whatever you do: Don't buy a home without an agent on YOUR side of the transaction!
Make sure you hire an Exclusive Buyer's Agent!
Call us at (801) 969-8989 or contact us via the link on this page.
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