Owning vs. Renting

Rochester is ranked #3 on a recently released report that ranked 20 metropolitan areas where it’s almost the same cost to buy vs. renting. BusinessWeek.com and research firm Reis issued the report. There are many benefits to owning, especially if you plan on staying in Rochester long term and can build up equity. With the $8,000 tax credit and low interest rates, it is a perfect storm for first-time homebuyers. But don’t delay….even though there’s talk of extending the tax credit, there’s no guarantee it will be available after November 30th.

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