As a first time prospective home buyer you may be asking yourself "should I buy or just rent?". This is a naturally debatable question. You may wonder if its worth it to stop writing those rent checks and make an investment into your future. A
recent study done by Trulia gives you a clear view of what areas it is more affordable to purchase a home vs renting one.
San Jose, Ca is among one of these areas where it is better to buy than to rent. The average 2 bedroom rental will cost you $2000 to $2500/month vs. an average 2 bedroom condo/townhome listing price of $200,000 to $300,000. So in other words if you bought a condo/townhome for $300,000 your monthly mortgage is only around $1,500/month
(based on 30 year fixed at 4%*). Thats a HUGE savings.
So lets ask yourself again....is it time to buy?
*interest rates will vary depending on what loan program you sign up for and what your credit score is.
