It’s common knowledge that in most of America, the benefits of buying often outweigh the initial perks of renting over a fairly short period of time. Some South Florida homeowners, however, are hitting the break-even point much sooner than those in most other markets.
According to a first quarter analysis by real estate website Zillow.com, buying beat renting after just 1.2 years for homeowners in Palm Beach, Broward and Miami-Dade counties. The tri-country region had the fourth-shortest break-even point among the 35 largest metro areas nationwide in Zillow’s report, as noted in a story in the Sun Sentinel. Orlando and Tampa nabbed spots in the top three.
The communities of Lake Worth, Margate and Coconut Creek all experienced break-even points in less than one year, according to the paper. [Sun Sentinel] – Kerry Barger