Renting vs Buying properties in NYC

File Library

  • View document mission Statements  

    Uploaded by JMedrano on April 1, 2013

    Description: <br /> I selected to write about Real Estate market and what is better to rent or buy a property? due to the high rentals problem that the majority of New Yorkers are facing.<br /> My own rent situation inspired me to investigate and analyze about the money I pay for rent and the mortgage a will pay if a buy a house. Then I decided to write about it to help others.<br /> Since I start working in real estate, I noticed that it is much better to buy than to rent a property because the rent that I pay goes to landlord while the mortgage I pay can some day came back to your pocket. For example, if you buy a house now that the market is low, lest say you buy a one family house for $ 350,000 your monthly payment, could be on $2200. Next year the market goes up and now your house value increased and the price is $40000 the equity is 50,000. That means that in one year you got 50,000 back to your pocket from the mortgage you had pay.<br /> This is dedicated to all people who are paying height rent in NYC.<br />