Don’t just take our word for it. Try this fun online calculator put up by the New York Times. The average sale price of the 410 homes that have sold in Redding since the beginning of the year is $193,863. That gets you an average 1731 sqft home for about $108 per sqft, all averages this year. Here’s the results of the calculator using that average, and some typical financing options.
So after 4 years, it’s better to own. Click on the image to go to the live online calculator and try some different scenarios. Thanks NYT.
5 or 6 years ago, there was no way it made sense to buy. Now, that’s not true. If you plan on staying, and especially if you make the right choices for location and improvements, it really makes sense to buy.