To Buy or not to Buy? To Rent or not to Rent? That is the Question.

The Question is: Rent or Buy?

You have all heard about how the interest rates and home prices are at near historic lows... But is that enough to get you off the fence and into your own home???

Make sure that you answer these questions:

Is it the right time for you?

Tighter lending restrictions may mean that you will find it a bit more difficult to qualify for the home of your dreams. You may need a larger down payment and a higher credit score to qualify. Lower interest rates and declining home prices plus the tax breaks involved in owning a home may make sense to own vs. renting. Speak to your significant other or family (if applicable) and see if this is the right time for you. 

 Is the home you are interested in the right home for you?

Make a list for yourself of what you would want in a home. List them in order of importance. Remember it may be very hard to find a home that fits your criteria 100% but at least this will give you a good idea if the home that you are after is what you really want.

After you calculate your monthly expenses, can you really afford this house?

Buying a home is going to be one of the biggest events/financial responsibilities in your life. It will protect you from rent increases in the future. One positive is that your home will represent stability in your life.

When you are ready or if you have any questions... just call me and we can sit and go over your real estate goals. Call me, I can help you. Have a great day.

Ricardo The Realtor