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Tim Savy's Blog

By Tim Savy | Broker in Bellevue, WA

Should you rent or buy in Seattle?

Should You Rent Or Buy In Seattle?

Buy, buy, buy! That's the message Trulia is trying to send home to Seattiltes torn between the ongoing struggle to figure out what's better…to invest in a home or rent 'til you die.

Says Trulia, homeownership is 38% cheaper than renting nationwide, though rising mortgage rates and home prices have narrowed the gap over the past year. Still, you'd have to wait until mortgage rates rise to 10.6% before renting become cheaper than buying nationally. Locally, they've determined it's 34% cheaper to buy than to rent in Seattle, versus 42% at this time last year.

Take Trulia's Rent vs. Buy calculator for a test spin yourself and see if it checks out for you. Depending on how much you're paying, it could swing the other way.
· Buying a Home 38% Cheaper Than Renting – But How Risky Is It? [Trulia]
· Rent vs. Buy Calculator [Trulia]

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