With mortgage rates at record lows, it may be a good time to buy a new home. According to a recent study done by the website Trulia.com, owning a home is cheaper than renting in every one of America’s 100 largest metropolitan areas. The combination of low interest rates, decreasing prices, and government initiatives for new home buyers means that many people who could not afford a single-family home before can afford one now.

A fixed-rate mortgage never goes up in price, unlike rent, which can go up whenever the landlord decides to raise it. Many families find that buying affords them a nicer home, better neighborhood, lower costs, and more predictability.

Interest rates never have been this low before. It may be time for your family to consider purchasing a home.

About the Author

A third-generation home builder, Stephen F. Been is the Chief Executive Officer at Legacy Communities, a real estate development firm based in Atlanta. Legacy Communities has a proven track record of helping female heads of household and multi-generational families to qualify for new homes.

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