5 Tips For Renters

By
Real Estate Agent with TIM LORENZ - Elite Home Sales Team DRE# 00919781
https://activerain.com/droplet/rFs

5 Tips For Renters

If you are a renter and you were one of the folks that got crushed in the mortgage meltdown.  You went through a short sale or foreclosure.  You probably can get back into the market.  Or if you are a renter and you have not decided to purchas a home or condo lets talk.

Here are 5 tips for renters to become a buyer of a home:

  • Check with a Realtor and find out the amount you will need to purchase a home.  Some can get a one half percent down payment of the value of the home purchase price.  ($900 -$3000) depending on the home value.  If you do not qualify for that it could be 3.5% to purchase.
  • Look at properties with a Realtor in person.  The agent will get you into properties you qualify for and help you to actually evaluate the property.  If you look on line you are purchasing based on the photographer's skill.
  • In a lot of the cases it is cheeper to buy than it is to rent.  Low down payments and low prices make it easier to purchase today than in the last 3 years.  Most renters have not looked to see what they can do for themselves.
  • If you have never owned a home you are not aware of the tax write off on your income taxes.  It is substantial.  Think of this you can own a home and pay (in most cases) less than rent and get a tax break in addition.
  • Our current market conditions exists only a few times in a life time, low value of home and low interest rates.  With the current conditions some are woried they may pay to much for their new purchase.  We have shown in other blogs that for the past 3 months we have been increasing in the number of sales.  The increases in home value normally follows.  More importantly the speed of increase in interest rates going up is substantial.  If you wait and interest rates go up smaller cheeper homes will cost more per month.

Remters this is you time to own a home lets go shopping.

close

Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
California Orange County Mission Viejo
Groups:
Keller Williams 'Rainers
Agents who want REFERRALS!
Orange County Real Estate
Outside Blogs
Market Reports
Tags:
home buyers benefit

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Rainmaker
51,603
John Foster
RE/MAX All Properties - Cumming, GA

Thanks for sharing

Feb 08, 2012 09:22 AM #1
Rainmaker
1,022,354
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

John

Thank you for the comment.

Feb 08, 2012 09:52 AM #2
Ambassador
1,509,944
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Renters it's time to become home owners!  Contact Realtor® Tim Lorenz and put his real estate knowledge to work for you today!

Feb 08, 2012 09:52 AM #3
Rainmaker
1,056,550
Bob & Leilani Souza
Souza Realty 916.408.5500 - Roseville, CA
Greater Sacramento Area Homes, Land & Investments

Tim, these are great tips for anyone considering the change from being a renter to a homeowner. I hope anyone in the Mission Viejo area contacts you to help them! :)

Leilani

Feb 08, 2012 10:20 AM #4
Rainer
80,593
Chris Lewis
Gracious Living Realty - Front Royal, VA
I want to SELL your home, not LIST it!

You are absolutely right - with low prices and low interest rates, now is a great time to buy.

Feb 08, 2012 10:37 AM #5
Rainmaker
1,022,354
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

John

We have to get them to realize the importance of the timing.  The time is now.

Feb 08, 2012 11:32 AM #6
Rainmaker
1,022,354
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Leilani

I to wish they will contact me for help.  Thanks.

Feb 08, 2012 11:33 AM #7
Rainmaker
1,022,354
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Low price, low interest rate, and even low down payment.

Feb 08, 2012 11:34 AM #8
Rainer
251,980
Karen Hawkins, MBA - Langley & Surrey, BC
Royal Pro Real Estate Network - Langley, BC

Tim, you've certainly laid it out wonderfully for those renters out there - that's the value of an experienced real estate professional.  Renters - listen to Tim's advice!

Feb 08, 2012 04:23 PM #9
Rainmaker
1,022,354
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

It is a time to buy.

Feb 08, 2012 04:55 PM #10
Rainmaker
504,738
Teral McDowell
Referral Patners LLC - Murphy, TX

In my last open house I had a couple of renters come through saying they would be looking to buy so they are coming out to see what their options are.

Feb 09, 2012 04:47 PM #11
Rainmaker
779,711
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Great advice.  In my area rents are more expensive than purchasing as well.  Great time to invest also! -Kasey

Feb 11, 2012 04:44 PM #12
Rainmaker
1,171,825
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

If you are ever going to buy, and you qualify, now is the perfect time.

Feb 11, 2012 05:21 PM #13
Rainmaker
1,022,354
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Teral

That is great good luck with them.

Feb 12, 2012 03:06 AM #14
Rainmaker
1,022,354
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Kasey

We agree it is a great time to invest.

Feb 12, 2012 03:08 AM #15
Rainmaker
1,022,354
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Jane

Thanks Jane.

Feb 12, 2012 03:09 AM #16
Rainmaker
854,046
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

We really do need to get this information out to the general public. 

Feb 12, 2012 05:09 PM #17
Rainmaker
1,022,354
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Thanks Mark

It is something we can shout from the house tops.

Feb 13, 2012 03:22 AM #18
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