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Renters: Now may be the time to buy a home in Jupiter

May 31, 2015 by gailmarcarelli Leave a Comment

Waterfront homes in Jupiter

The Shores of Jupiter is just one of the great communities in Jupiter where you can find some great home values.

It is now on average 47% cheaper to buy than to rent for 5 years assuming a 4.8% interest rate, 15% tax bracket in the West Palm Beach area.*
So renters, it may be time that you take the Homebuyer Challenge. To help you understand the financial impact of buying vs. renting, I have gathered some tools and articles that may help you decide if the time is right for you.

Now may be an especially good time to buy a home in Jupiter.

  • According to Realtor.com you could save more than $200,000 over 30 years:
    $217,726: That’s What You’ll Save (Give or Take) If You Buy a Home Now
  • Sun Sentinel states that even with the rising cost of homes, it is a still a more cost affective to own a home than rent one in South Florida as rents increase as home prices rise. Buying a home still beats renting.
  • Trulia has an interactive map of the United States that allows you to adjust interest rates, tax rates and number of years you stay in the home.
  • Realtor.com also has quite a few Rent vs Buy calculators to help you get a clearer picture.
  • To learn more about buying a home, read this article by Amy Fontinelle on Investopidia.com. Amy has some great advice on how to meet the Homebuyer Challenge head on.
  • You can use the following calculators to get a general idea of the financial benefit of home ownership and how much you can afford to pay for a home.

Rent vs Buy Calculator

MortgageLoan.com

How much House can you afford?

MortgageLoan.com

* Rent vs. Buy: Which is Cheaper for You?
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Filed Under: For Sale, Real Estate, Rent, Rent vs Buy, Uncategorized

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