Is it Better to Buy or Rent in Houston

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According to a new housing affordability report, Houstonians are better off buying (or building) a home than renting. In fact, Houston is one of the best cities on the country for anyone hoping to making the switch from renting to buying as our city ranks #2 among 34 cities offering the largest amount of savings when switching from renting a home to purchasing one.

On average, Houstonians spend 12.3% of their monthly income on a mortgage payment in comparison to the 30.6% Houstonians spend on their rent payments. Additionally, nationally the average American spends 15% of their monthly income on a mortgage payment, whereas they spend, on average, 30.2% on a rent payment. These numbers are proof that most Americans can save money by switching from renting to buying their home.

If you’re ready to make the leap, and would like to build your own custom dream home, instead of purchasing a pre-built home that isn’t suited to your needs, be sure to contact us here at Prestonwood and Associates. We can help you find the perfect floorplan for your families needs.

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