Buying Cheaper Than Renting in San Antonio | Real Estate Muses

According to Rentbits.com? The Average 3+ Bedroom Rental rate in San Antonio through February of 2012 is $1488 a month.? If you?re looking or a 2 bedroom rental property, that could run you around $984.? So, over a 5 year period, if you are paying $1488 ? you?ve spent $98,666 on rent, and you?ve gotten no tax deduction, and you?ve been paying someone else?s mortgage payment!

That?s much higher than the mortgage payment on the Average house in San Antonio!? For a home that sales for $185,000, with a 5% down payment, you could be looking at a payment on a fixed rate mortgage of $839.06.? Of course, you must add Insurances and Taxes to that ? but still, your total monthly payment could be less than $1200.00 a month!

And Rental Rates are likely to keep going up!

?As rents rise and prices stagnate, home ownership is becoming even more affordable, but rising rents create a dilemma for people who can?t afford to buy yet,? says Jed Kolko, Trulia?s chief economist.? According to Trulia, the vacancy rate for Apartments in San Antonio is roughly 7.4%, this leaves room for Apartment rents to continue to go up.

Where The San Antonio Jobs Are

While many of the new San Antonio? jobs expected to come in 2012 will be from the Healthcare, and Energy sectors.? According to the San Antonio Business Journal,? rentals within close proximity to South Texas Medical Center and USAA are expected to be ?choice? properties, and could see higher rents.

The journal quotes a Major Apartment Leasing company executive who said, ?San Antonio is one of the nation?s largest and fastest-growing markets,? World Group Vice President?Jon Pesce?says. ?It withstood the recent economic downturn and has shown a consistent track record for multifamily investors.?

If you?re tired of being an Apartment Dweller ? call the Real Estate Muse Team!? We know the best San Antonio neighborhoods, we can help you find a dream home that fits your budget!

Tags: buying a house in san antonio, comparing rent to house payment san antoino, real estate muse, rent vs buy in san antonio, should you buy a house in san antonio

This entry was posted on Monday, April 16th, 2012 at 9:06 am and is filed under Buyer FAQs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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