Buying Renting in Miami

Is Renting A Home Better Than Buying?

This question has been asked forever and most answers are it depends on how long you plan on living in a home and what your lifestyle is like.  If you plan on living in a home for more than 3 years – 5 years, experts say that it is probably more economical to buy.  Given the recent decline of property values, especially for those purchased during the most recent boom, I was surprised to see that the Costco January Debate: Is renting a home better than buying? resulted in only 26% of respondents saying it is better to rent.  74% believed buying was better.

With rental rates in Miami on a steep incline over the last two years, I would have to agree.  Especially if you are planning on making Miami your home for a while.