What's the real cost of waiting to buy a San Diego Home?

Call George Lorimer to buy a San Diego Home at 619-846-1244

Have you considered the cost of waiting? Last year, in 2023, if you paid $4000/mo in rent and could have bought a home for $800,000. 

You lost all rental payments of $4000 x 12 = $48,000/year, AND the potential appreciation of 5% x 800,000 = $40,000 that year. 

The total loss or cost of renting was $88,000 last year. 
 

Yeah, but it costs way more to buy a house than to rent - Does it really? 

Even if your housing payment to buy a home costs $ 5,500/mo, that's about $1,500 more than $4,000/mo in rent.  

To buy a home, you'll invest $1,500/mo x 12 = $18,000/yr more than rent, but you would save/make $60,000 more buying a home versus renting!



Many lifelong renters tenaciously "save" for a bigger downpayment. However, it is almost impossible to save more downpayment than if the market goes up. 

For example, if the housing market goes up 5% on a $800,000 home, it goes up $40,000 in one year. That's nearly impossible for most people to save.

Some years, the market is flat or goes down, but over 95% of the time, it goes up. Recnetly prices have surged 10% and even 20%.



The only way to make this inflation work for you is to have an asset that goes up with it, namely a house!

If you're sick of renting, have a job and a downpayment, call George Lorimer to buy a San Diego Home at 619-846-1244