I’m often asked: Is now a good time to buy a home? -and- Should I continue to rent or should I buy a home? The answer: It depends!
Buying or renting a home remains an individual choice. Many questions need to be asked with much thought going into the answers. Questions like: How long do we plan to be in our home? How much money do we have available for closing costs and down payment? What is our monthly budget for housing? How many bedrooms and bathrooms? Where do I want to live? Do I need to sell my current home to buy a replacement home? Do I want to build a custom home, buy a spec house or a resale home. Do I need a detached house, townhouse or condo? What are the advantages of renting vs owning and owning vs renting for me? What type of community do I want to live in (gated, in town, out in the county on 100 acres, in a small rural subdivision of 13 lots, or a golf course community). The list goes on and on.
With many homes for sale and interest rates hovering at all time lows, now may be a great time for you to buy. This has been a great year for several buyers I’m working with. One buyer bought a home in Lake Monticello larger than her rental with a lower monthly housing cost than renting. Others are working to sell their current home to buy more of what meets their needs today in a home than the home they purchased ten years ago. Still others are choosing to rent since they are unsure how long they will be in the area.
So, deciding whether to rent or buy remains an individual choice. Which is the best choice for you? Let’s talk and evaluate you housing needs, budgets, available housing & loan options and help you to make an informed decision. If you would like to develop a great search tool to help in finding your next home, click on the “search for your next home, farm or land puschase” link!