Rent Vs Buy? What do I do?

By
Mortgage and Lending NMLS 89896
https://activerain.com/droplet/4DfJ

Well it’s the age old question!  What do I do?  Rent? Buy?  Live in a box by the river under the bridge lol.   It’s a tough one.  What I will tell you is that before you make any decision you MUST make sure you have all the "correct" info.   You will read lots of stuff out there (advertisements) its like a huge used car sales pitch for one way or the other depending on if the person is renting out new apartments or the builder is trying to sell the new homes they just built.  So what we need to start with this what are your short and long term goals?   Are you planning on moving to Mexico next week or are you planning on staying put for the foreseeable future in your current location.  Once that is established we need to look at the amount of monthly housing payment we feel comfortable with and the amount of money that you have saved up for a down payment. These are things you need to talk to a mortgage professional about.  There are lots of items included in payments (taxes, insurance, mortgage insurance, homeowners association dues(potentially), etc.). These items are things we need to factor in, so when you are looking at payments you are looking at what they actually will be not what we wish they would be in a perfect world that does not exist lol.   Also when it comes to down payment there are many options.  Sometimes it may be about the same as a first month’s rent and security deposit on a rental unit.  So OPTIONS are out there.  If you want to discuss what’s actually available for you I am one call or email away.   There are many more benefits to buying a home like: building equity, tax break, etc.  All stuff we discuss but first we need to figure out what option is best for you!

Posted by

Lindsey Conrad

D 888 316 1653

F 888 316 1654

lconrad@vandykmortgage.com

 Van Dyk Mortgage Corporation

7087 Pearl Road Middleburg Hts. Ohio 44130

www.VanDykCLE.com  Apply Here 24 Hours a day!

 NMLS #89896  Company NMLS ID #3035

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Topic:
Mortgage / Finance
Location:
Ohio Cuyahoga County Middleburg Heights
Tags:
buying new home cleveland
buying in ohio
new home shopping
first time homebuyer
cleveland mortgage
interest rate
down payment
mortgage payment
cleveland homes for sale
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Show All Comments
Rainmaker
5,532,328
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Lindsey Conrad buying trumps renting with every game....

May 16, 2015 01:00 AM #1
Rainmaker
5,532,328
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

and welcome to ActiveRain..... great first post....keep 'em coming....

May 16, 2015 01:01 AM #2
Rainmaker
3,206,113
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Lindsay - This is very good report about the difference between rent vs buy.

May 16, 2015 06:57 AM #3
Rainmaker
6,151,220
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Best wishes for great success with your ActiveRain blogs.

May 17, 2015 12:13 AM #4
Rainmaker
628,656
The Temple Team
THE TEMPLE TEAM - Mooresville, NC
Specializing in Lake Norman/Charlotte/Charleston

CONGRATAULATIONS on your first BLOG with Active Rain and WELCOME!!  You're going to LOVE it here!!!

 

KT

May 17, 2015 07:37 AM #5
Rainer
91,482
Odaly Victorio
Team Victorious at Keller Williams Realty - Jupiter, FL
Marketing Expert

Speaking to a mortgage professional is key.  If they can buy, it is definitely better than renting.

May 17, 2015 12:27 PM #6
Ambassador
2,011,593
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Lindsey - There are many things to considering when deciding to buy or rent, though I think buying makes more sense over time.

May 17, 2015 02:54 PM #7
Ambassador
2,011,593
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Lindsey - Welcome to the ActiveRain community, and congratulations on your first post here.

May 17, 2015 02:55 PM #8
Ambassador
2,011,593
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Please know that the ambassadors, orange badges, are her to help if you have questions.

May 17, 2015 02:55 PM #9
Rainmaker
1,118,651
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

it was a dilemma.    Owning a home is always a better choice.

May 18, 2015 02:33 AM #10
Rainmaker
711,063
Frank Harper
Idaho Family Real Estate - Boise, ID
Broker/Owner, Realtor, GRI, SFR.

Welcome to ActiveRain! Congratulations on your first blog here in the Rain! We all look forward to seeing more of your post!

May 18, 2015 04:12 AM #11
Rainmaker
2,463,617
Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Welocme to ActiveRain, It's great to have you aboard!  I hope to see more of your posts!

May 18, 2015 07:19 AM #12
Rainmaker
385,166
Trumps Elite
Keller Williams Realty Acadiana - Lafayette, LA
Realtors/Career Consultant

Welcome to the Rain. Great article and thanks for sharing. I followed you and I look forward to reading more of your posts soon.

May 19, 2015 01:04 PM #13
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Rainer
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Lindsey Conrad

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