Buy vs. Rent

 

 

 

 

 

 

 

This was a great article in the Sun Sentinel , “Rent vs. buy: Decisions comes down to job, finances.”  If you are comfortable with your job and have the money saved for a down payment, closing costs, prepaids, and reserves leftover after closing it couldn’t be a better time to buy in Fort Lauderdale and South Florida as rents continue to rise.

Interest rates are at historic lows and once they do rise they are going to jump and I would imagine the jump will be a half a point or more.  Keep in mind every 1% increase in interest rates reduces your buying power by 11%.