People often ask if now is a good time to buy a home in New Jersey, but nobody ever asks whether or not it’s a good time to rent. Regardless, Team Nest Builder wants to make certain that everyone understands that now is NOT a good time to rent.
The Census Bureau recently released their 2018 first quarter median rent numbers. This graph from their report shows rent increases from 1988 until today:
As you can see, rents steadily increased and show no signs of slowing down. If you’re faced with making the decision of whether or not you should renew your lease, you might be surprised at your ability to buy a home of your own instead.
One way to protect yourself from rising rents is to lock in your housing expense by buying a home. Call Team Nest Builder’s Lynn Garafola at 973-222-3777 today to determine if you are able to buy! Liked this article? Check out our blog for loads of helpful information on real estate, home improvement and community events!