What should you do!?!
Well, if you are moving to the Minneapple, it looks like your best option would be to buy. The real estate website Trulia recently conducted a survey of their users to see where the visitors were at with their decision to Buy or Rent.
In response to the survey, Trulia will be launching an all new index for the top 50 cities in the U.S. that will compare and contrast the difference between Buying & Selling.
To determine which option is better, the index will weigh the costs of buying a two-bedroom condo with the costs of renting one which then can be translated into numbers to fit a Single Family Home.
"Minneapolis was the city on Trulia's index where it makes the most sense to buy. The average listing price for a two-bedroom there was about $150,000, while the average annual rent for one came to about $20,400. Buying, therefore, costs less than eight times the annual cost of renting. Economists generally hold that anything below 15 times the annual rent is a buyer-friendly city."
To read the full article from CNNMoney.com please visit the link below.
Should you rent or buy?
Are you thinking about buying in Minneapolis? Stafford Family Realtors can help. As certified relocation specialists, we have the tools and materials that will make your transition as smooth as possible. Please contact us today for your free relocation package and to see how we can help bring you home!
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