Oakdale Rental Townhomes: Should I Rent One Or Buy?

If you are in the hunt for Oakdale rental townhomes, pause for a couple of minutes and consider the difference in renting townhomes versus buying one. Since it is more expensive today to rent townhomes than to buy one isn’t it at least worth it to consider saving some money by buying a home?

Oakdale rental townhomes, of course, have the advantage that you can get out of the lease contract in 12 months. Remember,however, there is a cost to this advantage , in that your rent payments will often times exceed those of a house payment. In addition, the security deposit for the rental may actually be more than the entry cost required for buying a Oakdale townhomes after considering all of the down payment assistance programs available for first time home buyers. Finally, perhaps the highest cost in renting a townhomes is the fact that you are helping someone else buy their home with your rent payments, versus buying your own home.

Benefits To Oakdale Rental Oakdale

The advantages may certainly be worth it, despite the high cost of renting, to rent if you will be moving again to a another city at the end when your lease expires. I tend to think that if you buy a home today you should plan on staying in it for a few years while the market develops.

Benefits To Buying Oakdale townhomes for the First Time Buyer

With all of the benefits available to the MN first time home buyer today, it is hard to know where to start in terms of benefits. The State of Minnesota now offers special loan programs through its Minnesota Housing Finance Agency to offer reduced interest rates as well as down payment assistance. Additionally many communities today offer additional down payment assistance loans or grants that both reduce what you need for cash to close as well as reducing your monthly payment.

First Step To Buy A Home: Get Preapproved

For many MN first time home buyers the big question is where do I start? Your very first step towards buying your first home is to get preapproved for a mortgage. By doing so you find out how much you are qualified for so that we can search for homes in the right price range.

City of Oakdale

Oakdale is a fine community in the Twin Cities area, and lies within Washington County. As Minnesota's 32nd largest community, it is conveniently located just east of Saint Paul, Minnesota. The City of Oakdale, MN does lie entirely within the North St. Paul-Maplewood-Oakdale school districts, but the students living in Oakdale, MN are generally split into 2 high schools, Tartan and North High. The famous World Headquarters of Imation is located near Oakdale and many residents are employed by nearby 3M.

If you have not yet considered buying a home I would definitely like to talk with you about the benefits of both renting versus buying. I offer a totally free consultation, with no obligation and am glad to talk with you about the differences.

Casey Anderson
Sales Executive, Licensed Realtor in Minnesota
IBR Realty
caseyanderson@ibrrealty.com
Cell 651-245-1820
Woodbury, MN 55125
With a focus on Woodbury homes for sale and surrounding communities.