{"id":415,"date":"2017-02-13T17:16:00","date_gmt":"2017-02-13T17:16:00","guid":{"rendered":"http:\/\/dev.gahomesdigest.com\/blog\/when-does-it-make-sense-to-buy-a-home-vs-rent-2017.html"},"modified":"2023-04-28T14:38:47","modified_gmt":"2023-04-28T14:38:47","slug":"when-does-it-make-sense-to-buy-a-home-vs-rent-2017","status":"publish","type":"post","link":"https:\/\/search4.homes\/when-does-it-make-sense-to-buy-a-home-vs-rent-2017\/","title":{"rendered":"When Does It Make Sense To Buy A Home Vs Rent? 2017"},"content":{"rendered":"<p>We&#8217;ve covered this many time and thought it would be good to update especially since Zillow has recently started to release something they call the breakeven horizon. \u00a0This is basically how long you have to live in your home to make it &#8220;break even&#8221; financially for you. \u00a0What this hopes to do is take into account things like closing costs which obviously aren&#8217;t present when you buy a home. \u00a0 While this is an EXCELLENT way to look at renting vs buying a home, it doesn&#8217;t help you compare apples to apples. \u00a0For example, while it may take you a year and a half in Atlanta to &#8220;break even&#8221; on say $1,000 a month rental vs buying situation, it doesn&#8217;t show you that the difference in property that you could get in this scenario. \u00a0So let&#8217;s look:<\/p>\n<p>First let&#8217;s talk about what the parameters are. \u00a0 We&#8217;ll be looking for a place to rent for $1,000 a month and $1,500 a month. \u00a0We could go higher but seriously, if you&#8217;re paying more than this, you shouldn&#8217;t be renting. \u00a0 So let&#8217;s see if we can answer the question:<strong>\u00a0When Does It Make Sense To Buy A Home Vs Rent?\u00a0<\/strong><\/p>\n<h3>Key Numbers for our Rent VS Buying a home discussion<\/h3>\n<ul>\n<li>$1,000 a month rental translates roughly to a $200,000 home (with today&#8217;s interest rates)<\/li>\n<li>$1,500 a month rental translates roughly to a $300,000 home\u00a0<\/li>\n<li>Zillow says in Atlanta &#8220;metro&#8221; it takes 1.4 years to break even<\/li>\n<\/ul>\n<h2>Atlanta Rent VS Buy $1,000 Month<\/h2>\n<p><span>When you look at what you could buy in Atlanta vs rent for $1,000 it&#8217;s pretty scary to be honest. \u00a0Mainly because &#8220;good neighborhood&#8221; is block by block.\u00a0<\/span><\/p>\n<table border=\"0\" cellpadding=\"10\">\n<tbody>\n<tr>\n<td><img fetchpriority=\"high\" decoding=\"async\" src=\"\/wp-content\/uploads\/2017\/08\/rentatlanta1000_400.jpg\" alt=\"-\" width=\"400\" height=\"300\" title=\"\"><\/td>\n<td><img decoding=\"async\" src=\"\/wp-content\/uploads\/2017\/08\/atlanta1000buy_400.jpg\" alt=\"-\" width=\"400\" height=\"300\" title=\"\"><\/td>\n<\/tr>\n<tr>\n<td>$1000 a month gets you 3 bedrooms and in most cases at least 1.5 bathrooms. \u00a0At roughly 1,200 Square feet this home was one the best in all of Atlanta.<\/td>\n<td>This home is priced at $189,900 in a popular school district and has 4 bedrooms and 2 baths and is near 2,000 Square Feet.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div><span style=\"font-size: 12px;\">Winner? \u00a0<\/span><\/div>\n<div><span style=\"font-size: 12px;\">Buy a home: \u00a0You&#8217;ll get more square footage, a likely newer home and live in a nicer area.<\/span><\/div>\n<div><span style=\"font-size: 12px;\"><br \/><\/span><\/div>\n<p>\u00a0<\/p>\n<p>Atlanta Rent VS Buy $1,500 Month<\/p>\n<p>Let&#8217;s look in the Suburbs<\/p>\n<p>Gwinnett County Rent VS Buy $1,000 Month<\/p>\n<p>Gwinnett County Rent VS Buy $1,500 Month<\/p>\n<p>Cobb County Rent VS Buy $1,000 Month<\/p>\n<p>Cobb County\u00a0<span>Rent VS Buy $1,500 Month<\/span><\/p>\n<p>Other Popular Cities:<\/p>\n<p>Alpharetta\u00a0<span>Rent VS Buy $1,000 Month<\/span><\/p>\n<p><span>Alpharetta\u00a0<span>Rent VS Buy $1,500 Month<\/span><\/span><\/p>\n<p><span><span>Brookhaven\u00a0<span>Rent VS Buy $1,000 Month<\/span><\/span><\/span><\/p>\n<p><span><span><span>Brookhaven\u00a0<span>Rent VS Buy $1,500 Month<\/span><\/span><\/span><\/span><\/p>\n<p>Sandy Springs\u00a0<span>Rent VS Buy $1,000 Month<\/span><\/p>\n<table border=\"0\" cellpadding=\"10\">\n<tbody>\n<tr>\n<td>pic<\/td>\n<td>Pic\u00a0<\/td>\n<\/tr>\n<tr>\n<td>words\u00a0<\/td>\n<td>\u00a0words<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span>Sandy Springs\u00a0<span>Rent VS Buy $1,500 Month<\/span><\/span><\/p>\n<p><strong>Related Real Estate Resources:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/search4.homes\/top-cities-to-raise-a-family-in-georgia\/\">Top Cities For Raising Young Families in Georgia<\/a><\/li>\n<li><a href=\"https:\/\/atlantanewconstruction.com\" target=\"_blank\" rel=\"noopener\">New Homes For Sale in Atlanta<\/a><\/li>\n<li><a href=\"https:\/\/youtu.be\/uzZ0JYZvvWo\" target=\"_blank\" rel=\"noopener\">How much money do you need to put down on a home\/<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>We&#8217;ve covered this many time and thought it would be good to update especially since Zillow has recently started to release something they call the breakeven horizon. \u00a0This is basically how long you have to live in your home to make it &#8220;break even&#8221; financially for you. \u00a0What this hopes to do is take into [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":504,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,8],"tags":[],"_links":{"self":[{"href":"https:\/\/search4.homes\/wp-json\/wp\/v2\/posts\/415"}],"collection":[{"href":"https:\/\/search4.homes\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/search4.homes\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/search4.homes\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/search4.homes\/wp-json\/wp\/v2\/comments?post=415"}],"version-history":[{"count":1,"href":"https:\/\/search4.homes\/wp-json\/wp\/v2\/posts\/415\/revisions"}],"predecessor-version":[{"id":2190,"href":"https:\/\/search4.homes\/wp-json\/wp\/v2\/posts\/415\/revisions\/2190"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/search4.homes\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/search4.homes\/wp-json\/wp\/v2\/media?parent=415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/search4.homes\/wp-json\/wp\/v2\/categories?post=415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/search4.homes\/wp-json\/wp\/v2\/tags?post=415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}