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Rent or Buy? Here’s What Freddie Mac Has to Say

Rent or Buy? Here’s What Freddie Mac Has to Say

RentvsBuyWith rent prices climbing higher over the past years, many renters question whether they should rent or buy. A new survey by Freddy Mac found that 78-percent of renters across all generations still believe that renting is more affordable than owning a home. This is 11 points higher than in February 2018, when the same survey was conducted.

From Stamford to Norwalk to Branford, the rental market is hot and the lack of availability is only one cause of rental rates skyrocketing. Within the past months, Apartments.com listed more than 2,000 units for rent in Fairfield County, with Zillow listing about 530 standalone houses available on a rental basis. How can you get an amazing apartment in Connecticut when the renter’s market is so tight? Our CTBest team strives to provide renters with a convenient, safe and affordable place to live.

The Freddie Mac survey also found that 63-percent of people said that renting is the best option and 58-percent said that renters confessed that their housing choice is good for them at the moment and that they have no intention of buying a home in the near future.  A shocking revelation was that 42-percent of baby boomers said they have no intention of owning a home! When it comes time to change homes or location, 66-percent of renters surveyed said they plan to continue renting their next home.

Money is always the driving factor when it comes to renting versus buying. However, money isn’t everything; elements like the economy, livability and accessibility also play a huge role in where you decide to settle. Stamford may be a tad more expensive to rent in than other cities, but ask anyone who lives here and you won’t hear about rent, you’ll hear about the amazing walkable downtown area with a busy nightlife scene and an easy commute to Manhattan.

While rent may be increasing in some parts of the world, so are mortgages. Our apartment homes in Norwalk and Branford offer options for involvement that are endless. Settled near big cities such as New York and Boston, both locations offer hard-to-find in-unit features and a convenient lifestyle that renters crave.

CTBest has apartment complexes in some of Connecticut’s most exciting cities and each community offers excellent amenities, 24/7 maintenance and easy online bill pay. To learn more about the diverse selection of floor plans and communities CTBest has available, call Desiree at 203-223-1665 or visit www.CTBestApts.com.

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