Contact

10244 River Road, Potomac, MD 20854
301-349-7800 [email protected]
Do you want content like this delivered to your inbox?
Share
Share

Should Boomers Buy or Rent after Selling?

Ross Wilhelm

Ross is the Lead Buyer's Agent for the Crawford & Lee Team and has more than 23 years of experience in New Home Sales and a vast knowledge of con...

Ross is the Lead Buyer's Agent for the Crawford & Lee Team and has more than 23 years of experience in New Home Sales and a vast knowledge of con...

Feb 8 3 minutes read

In a recent CNBC article, it was reported that many baby boomers are selling their current homes and moving into rentals, rather than purchasing another home.

“Between 2009 and 2015, the number of renters aged 55 or above rose 28 percent, while those aged 34 or younger only increased 3 percent...

Meanwhile, more than 5 million baby boomers across the nation are expected to rent their next home by 2020, according to a 2016 analysis from Freddie Mac.”


This makes sense in the short term for many reasons. If you are moving to a different part of town or a new region of the country, you may decide to rent until you pick the perfect home in an area you love. However, is renting a good long-term strategy?


A mortgage payment remains fixed. Rents, however…

The Census Bureau recently released their 2017 third quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether you should rent or buy your next home, you should take this into consideration.


Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home instead of renting. Let’s get together so we can help you decide what the best step is for you and your family!


What's My Home Worth?

Find the value of your home in the Maryland, Virginia and Washington, D.C  real estate mar...

Read More

 

 

Search | Maryland, Virginia and DC Real Estate | Homes and Properties for sale | Crawford & Lee Team Realtors

Crawford & Lee Team Realtors lists homes for sale and real estate in the Montgomery &a...

Read More


Thinking about Buying or Renting? We're here to help You!

Reach Out Today!

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info