Rent VS Buy House

rent vs buy houseRent VS Buy House

If you’re out looking to rent a place you might have noticed that rent is expensive!  Sure there’s a few places to rent in Gwinnett County that range from the low $500 a month, but most of these places are either townhomes, duplexes or in the very worst school districts in town.  Statistically, renters aren’t as concerned about schools but they should be! While a good children’s education has value, it’s not as valuable if you don’t have children — HOWEVER, it does affect the over all prices of available homes AND it also affects the areas “quality of life.”  Areas with better schools typically have better parks, cleaner stores, less crime – you know lots of good stuff that your Momma told you to look for in a place. I digress, so where was I? Oh, rent is expensive and home prices are down, so let’s compare the age old question of buying vs renting a home in Georgia.

In our research we noticed that the average rent rate for a single family home in Central Gwinnett was about $800 a month (see below) while a home in a better school district like Grayson, Mill Creek or Peachtree Ridge was closer to $1,300 a month.

So let’s break out the calculator on our phone and compare notes. For those cynical folks out there, my calculation assumes you are putting 3% down and getting a fixed rate loan of 5% for 30 years [at the time of this blog post rates are as low as 3.8%]

Rent VS Buy A House?

If your rent is $500 a month you could buy one of these homes instead (we’ll start here because frankly rent this cheap is usually “mom’s house”)


Rent Vs Buy at $800 A Month

How about if your rent is $800 a month, what can you get?


Rent Vs Buy A Home At $1,000 a Month Rent

Let’s do two more: $1,000 rent a month, should Rent VS Buy A House?


Finally, we’ll stop a the $1,300 a month rent. If you’re paying this much in rent, why aren’t you buying – take a look!


Related Real Estate Resources:

Joshua Jarvis
Joshua Jarvis

Joshua and his family have served Gwinnett County for over 20 years, specializing in homes for sale in Buford, Braselton, Hoschton and areas in the north Gwinnett area. Jarvis Team Realty has sold over 1,000 homes all over Atlanta