(540) 667-2606 | brarva@brarva.com

181 Garber Lane, Winchester, Virginia 22602

 

The Blue Ridge Association of REALTORS┬« located in Virginia serves the areas of Winchester City, Frederick County,  Warren County, and Clarke County.

 

 
 

Is it better to buy or rent? Whether renting is better than buying depends on many factors. The information listed here will assist you in helping answer this question. Included are statistics and studies on home owners and renters as well as financing options and tips. (M. Glick, Senior Information Specialist)



Buy vs. Rent Comparison 

The chart below shows a cost comparison for a renter and a homeowner over a 7 year period.

The renter starts out paying $800 per month with annual increases of 5% The homeowner purchases a home for $110,000 and pays a monthly mortgage of $1,000

After 6 years, the homeowner's payment is lower than the renter's monthly payment

With the tax savings of homeownership, the homeowner's payment is less than the rental payment after 3 years

There are many ways through the internet that you can search for a home.  A few ways are listed below.

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LOCATION

888 Griffiths Way,
Mainland ML12345