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The High Cost Of Renting

Thursday, January 9, 2020   /   by Ira Miskin

The High Cost Of Renting

Here's an amazing statistic that everyone who is currently renting should strongly consider.  In Metro Atlanta the average monthly cost to rent an apartment or single family home is $1475 per month according to national statistical tracker Attom Data Solutions in their Rental Affordability Report. And more than 57% of us still rent vs. own a home, town home or condo of our own! 

For the same monthly cost you can own a home with a market value of $235,000 purchased with as little as 3.5% down payment with an FHA loan.  As well, for many of us, there are down payment assistance programs that can help you with your down payment. There are also 0% down loans for Veterans and current military, and 0% down FHA loans through the FHA's USDA program.

Additionally there are good Rent-To-Own programs where you can rent a home of your choice, and once you can qualify for a home loan you can buy it a predetermined price.  

Many of us believe home ownership is beyond our financial capability. In today's housing market there are many good programs that can turn home ownership from a dream to a reality.

If you want to learn more and receive a Free No Obligation Consultation call us at Houses Atlanta/The Miskin Team at 770-672-7832.