{"id":1987,"date":"2017-10-26T10:00:17","date_gmt":"2017-10-26T10:00:17","guid":{"rendered":"https:\/\/thezakariagroup.com\/how-to-save-on-a-mortgage-payment-whether-buying-or-selling\/"},"modified":"2017-10-26T10:00:17","modified_gmt":"2017-10-26T10:00:17","slug":"how-to-save-on-a-mortgage-payment-whether-buying-or-selling","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/how-to-save-on-a-mortgage-payment-whether-buying-or-selling\/","title":{"rendered":"How to Save on a Mortgage Payment Whether Buying or Selling"},"content":{"rendered":"
\n

\"How<\/p>\n

In Trulia\u2019s<\/em> recent report,\u00a0<\/em>Rent vs. Buy: Roommate Edition<\/em><\/a>,<\/em> they examined the impact that renting with a roommate has in determining whether it is more expensive to rent or buy. The study explains:<\/span><\/p>\n

\n

\u201cSince we started keeping track in 2012, it\u2019s been a better deal to buy than rent in America\u2019s largest housing markets \u2013 and for much of that time it hasn\u2019t been close.\u201d<\/em><\/p>\n<\/blockquote>\n

It then goes on\u00a0<\/em>to ask the question:<\/p>\n

\n

\u201cBut does the equation change for renters who share their rent with a roommate?\u201d<\/em><\/p>\n<\/blockquote>\n

The report reveals:<\/strong><\/h4>\n
\n

\u201cWhile the standard rent vs. buy analysis reveals buying is cheaper than renting in all of the nation\u2019s 100 largest metros, this doesn\u2019t hold true for those choosing between renting with a roommate and buying a starter home.\u201d<\/em><\/p>\n<\/blockquote>\n

It seems obvious that sharing the cost of renting your living space by taking in a roommate dramatically decreases your housing expense (which is exactly what the report concluded), but it got us thinking.<\/p>\n

What if you purchased a home and took in that same roommate?<\/strong><\/h4>\n

The savings you would gain by adding a roommate would also occur if you purchased a home. This presents an opportunity for a list of possible purchasers. Here are two examples:<\/p>\n

    \n
  1. The first-time buyer<\/strong>: As the report explains, many young adults already live with a roommate. If they purchased a new home, perhaps that roommate (or someone else) would be willing to rent a room in their new house. The rent could help offset the mortgage payment.<\/li>\n
  2. The empty-nester seller looking to move<\/strong>: Their home may no longer fit their current lifestyle. They may now be looking for something a little smaller with all the bedrooms on the ground level. These families may be able to open a bedroom to an older family member (parents, aunts & uncles, etc.). This would kill two birds with one stone.<\/li>\n<\/ol>\n

    A smaller, move-down home is almost impossible to find in the current housing market. If the seller-turned-buyer takes on a tenant, they could buy a more expensive home knowing that the additional monies needed to pay the mortgage would be offset with the additional monies they receive in rent. Secondly, the older couple (ex. parents) could get a housing option that probably far surpasses anything else available to them in the current market.<\/p>\n

    Bottom Line<\/strong><\/h3>\n

    Considering the concept of renting a portion of your house to be able to purchase the perfect home may make sense to many families. You will need to decide if it is right for you.<\/p>\n<\/div>\n

    Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

    In Trulia\u2019s recent report,\u00a0Rent vs. Buy: Roommate Edition, they examined the impact that renting with a roommate has in determining whether it is more expensive to rent or buy. The study explains: \u201cSince we started keeping track in 2012, it\u2019s been a better deal to buy than rent in America\u2019s largest housing markets \u2013 and […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[98,99,100,101,111],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nHow to Save on a Mortgage Payment Whether Buying or Selling - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/how-to-save-on-a-mortgage-payment-whether-buying-or-selling\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Save on a Mortgage Payment Whether Buying or Selling - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"In Trulia\u2019s recent report,\u00a0Rent vs. Buy: Roommate Edition, they examined the impact that renting with a roommate has in determining whether it is more expensive to rent or buy. 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