Rent vs. Buy
This Mortgage Tip is brought to you by: Jefferson Lewis Board of Realtorsand Northern Credit Union.Renters often have questions about renting versus buying and the best choice for them. Hi I am Lance Evans from the Jefferson-Lewis Board of REALTORS®. In the past twelve months, a three bedroom house in the Watertown 13601 zip code rented for $750-$2400 with a median rent of $1300. In the same time frame, the same sized home in Watertownsold for a median of $129,000. The monthly mortgage on that home would be about $1050 including insurance or $250 less than the median rent. So should you buy or rent? It does depend on your situation and how long you are going to be in the area, however it might be worth talking to a mortgage professional and a REALTOR® on how you can Dream It, Live It, Own It in Northern New York.This Mortgage Tip of the Week brought to you by Northern Credit Union. Whether you're building or buying, Northern can get you into your home with a great rate and low down payments and closing costs. Learn more at mynorthern.com.