We’re often asked if is better to buy home or rent home in Destin with today’s market conditions. Great question! While most of our clients come to Destin by first renting Destin vacation rental, after a few visits many decide to either relocate to the Emerald Coast or buy a second home or condominium.
Our expert team of Destin real estate agents consistently track and follow Emerald Coast real estate market trends. Right now, mortgage rates are continuing at near historic lows, and investing in real estate continues to be an attractive option for many. For those looking at relocating, purchasing a home versus renting in Destin is even more lucrative.
Rents in Florida are increasing, and in many cases, home ownership is actually cheaper than renting. Florida Realtors.org recently posted an article by the personal finance website GOBankingRates.com, which released a guide detailing how monthly rent compares to monthly mortgage payments across the U.S. The bottom line: It's cheaper to own a home than it is to rent one in 42 states, with renting more affordable in only eight states and the District of Columbia. According to GOBankingRates.com, the average savings enjoyed by homeowners in Florida is $398 per month. Florida is the top sixth state in the nation where owning is cheaper than renting. On average, the monthly rent in Florida is $1,695; whereas, the monthly mortgage in Florida is $1,297.
If you have been considering investing in Destin real estate, now is a good time to talk to an knowledgeable real estate agent. Our team of experienced Realtors are here to help. Meet our Destin real estate team online or call 1-800-2258-7652 and we’d be happy to connect you with the agent that is right for you.
Not quite ready to buy? We invite you back to the beach to stay in one of our premier Destin vacation rentals to enjoy Florida’s Emerald Coast and explore the local beach neighborhoods to find the one that feels like home. View our South Walton and Destin vacation rentals online or call 1-800-225-7652 to have one of our friendly vacation specialists help you with your search.
See you @ the beach!
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