Jacksonville Renters May Want To Look Into Buying To Save Money

wood flooring Homeowners can increase the value of their homes by having new hardwood floors installed, while renters cannot. In fact, for many of those living in Jacksonville, FL the amount of money being spent on rent has gone up over the last couple of years, while the price of owning a home has gone down.

Here is a quick look at how the price of renting has gone up in and around the Jacksonville, FL area:

“How much has the housing market changed since the Great Recession? Quite a bit, according to an analysis by Mark Uh, a data scientist at the real estate blog Trulia, Jacksonville ranked No. 23 in the increase in the percentage of renters, but had the highest increase in the nation of percent of income spent on rent from 2006 to 2014, with 4 percent.”

Source: <a href="http://web.tampabay.com/blogs/baybuzz/post-recession-homeownership-takes-a-hit-in-florida-among-older-millennials/2265417">Post recession: Homeownership Takes A Hit In Florida</a> by Michael Van Sickler.
We also learn from this article that in 2014, Jacksonville renters spent over 32 percent of their income on rent. This may be one of the reasons so many people are now considering buying their homes.

As home buyers, families can put money into their property to help increase its value over time. One of the best ways to do this is to have new hardwood floors installed. Hardwood floors are not only affordable, but they bring elegance into the home that many homeowners love. In addition, hardwood floors are one of the longest lasting types of flooring on the market today. With proper care, hardwood can last for many decades, and can be refinished when needed to keep them looking new.

The fact that rent prices are not likely to go down anytime soon, if ever, is a very good reason for many to start thinking about buying rather than renting month after month, with no equity being realized. For many, paying rent is simply lost money.

For those who already are buying their homes, new hardwood flooring is a great way to add value to the home. One of the best places to look into the many hardwood flooring options available today is at About Floors n’ More, located in Jacksonville, FL. Not only can homeowners find traditional hardwood flooring at this local store, but also new engineered hardwood floor systems.