Outgrowing your condo or townhouse? Looking for something with more room? There is good news on the horizon. Given the current market conditions, your next home is more affordable now than it may ever be.
Waiting for your current home to regain the equity you had a few years ago, may see you paying more for your next house than you need to. As the market comes back and home values go back up, so is the value of your next home going up.
Want to know if you can afford to rent your current residence and move on to something with more space? Consulting a Realtor before you determine what your next move will be is the first move. I can give you the market rate for rentals in your current neighborhood, and you may be surprised to find how closely it can come to covering your current mortgage payment. And any diference you pay out of pocket between your rental income and mortgage payment may be tax deductible.
There are options out there to help you get into the home you need now, without waiting for the market to rebound. Give me a call and we'll look at the options.
Chris Ann Cleland, Long & Foster, Gainesville, VA.
703-402-0037 or chrisann@longandfoster.com
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