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Home / Borrow / Should You Rent or Buy a Home
When it comes to deciding between renting and buying a home in NEPA and the Lehigh Valley, there are several factors unique to the region that you should consider. From the housing market trends to the cost of living, making an informed decision is crucial for your financial well-being.
The housing market in Pennsylvania offers a mix of urban and rural areas, with cities like Scranton and Wilkes-Barre serving as economic hubs. In recent years, the region has seen steady growth in home prices, making it an attractive market for both renters and buyers.
One of the key factors influencing the decision to rent or buy a home in Pennsylvania is the cost of living. Compared to major metropolitan areas, the cost of living in the region is relatively affordable, with lower housing costs and property taxes.
Renting a home in Pennsylvania can offer flexibility and convenience, especially for those who are not ready to commit to homeownership. With a variety of rental options available, including apartments, townhouses, and single-family homes, renters have the opportunity to find a space that meets their needs and budget.
For those considering buying a home in Pennsylvania, the region offers a range of housing options at various price points. From historic properties in quaint small towns to modern developments in suburban areas, buyers have the opportunity to invest in a home that suits their lifestyle and preferences.
Learn more details about How much house can I afford?
Deciding whether to rent or buy a home in Pennsylvania ultimately depends on your individual circumstances, financial goals, and personal preferences. By considering factors such as the housing market, cost of living, and your long-term plans, you can make the right choice for you and your family.
Use our Home Financing calculator to help you decide to rent or buy.
For more information or questions, please call us at 1-800-388-4380 or email us at Fidelity@fddbank.com.
