10/13/2026
It’s understandable that not everyone who desires to purchase a property is prepared to purchase a property but if that decision is your long term plan it’s important to take actions and get the necessary steps in place.
I just seen a 4 bedroom 1 bath cape house rental in Rosedale, Queens for $4900 when I did the math the equivalent home average purchase price the mortgage, taxes and insurance comes out to approximately in the same range of a monthly payment.
This is where individuals and families start to contemplate the decision of do we rent again when needing to move or explore the option of buying.
We often don’t speak about when the market shifts and rentals may be scarce more people may be on the rental market than the buying market therefore rents also increase for new rentals on the market.
So when you purchase a home you are not buying interest rates, you are being qualified for your level of financial affordability of a monthly payment and do you want to pay that in rent or a mortgage.
You can eventually lower a mortgage payment but more than likely you will never be able to decrease rent on someone else’s property.