Should I RENT or BUY a Home?

Reblogger Roy Kelley
Education & Training with Realty Group Referrals 16766

The question of Renting or Buying is always a decision some spend a lot of time deciding!    

Original content by Joan Cox DRE# ER40011786

 

The question of Renting or Buying is always a decision some spend a lot of time deciding!    There are situations where maybe it is not the best idea, but most often buying a property could provide a lower payment if buying!

 

 

1.   How is your Credit?

     Call a lender and have your credit pulled, and they can tell you if there are any issues you need to take care of, or that you are good to go.   You will be required to submit many documents for them to review your credit.

 

2.  Will you Remain in a City for two years?

      If there is a chance you will only stay for a year or less in one place, maybe buying a property may not be a good decision.    If you stay in a home for two years (out of five years), you can move to another home without capital gains.  **check with an accountant for more details

 

3.  There are lenders that do as less as 3% of the purchase price for conventional financing or 3.5% for FHA financing.   You DO NOT need a 20% down payment, but if you do, this will eliminate the PMI.  (mortgage insurance)  There are some programs that have grants or gift funds (some need to be repaid) if you do not have a down payment and closing costs.  

 

4.   Buying a home gives the homeowner a sense of success.   You OWN a home that you can put your stamp on, change decor, remodel, landscape, to make it yours, without the approval of a landlord.   You can pay the mortgage off, and you own it free and clear.    

 

5.  Buying a home gives you equity (in most markets) and after a few years, you will have a larger down payment if you decide to up-size your home.    We have seen an average of 10% increases in value for the last 4.5 years.    

 

Did I give enough reasons to at least think about a home purchase?    If it sounds good, give me a call, and let's talk about your options!

 

 

 

 

 

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Metro Brokers - House to Home, Inc.House to Home

GRI, CRS, CNE, e-Pro  

Broker/Owner

Joan@JoanCox.com

720-231-6373

 

Denver Real Estate

Homes for Sale in Denver

Neighborhoods in Denver

 
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Rainmaker
2,152,688
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Often times those renters find they can buy for less too. Good reblog choice this morning, Roy.

May 04, 2018 02:36 AM #1
Rainmaker
2,737,400
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Excellent graphic explanation for ths very worthwhle comparison !

May 04, 2018 04:03 AM #2
Rainmaker
4,209,177
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks for the re-blog.  This is a difficult choice for some folks, Roy.

May 04, 2018 04:34 AM #3
Rainmaker
3,963,939
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Joan always writes great posts. Thank you for reblogging. I hope renters will read it

May 04, 2018 04:44 AM #4
Rainmaker
3,491,238
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Roy, thank you for the reblog, and this is a decision some tenants are facing, and hopefully want and can buy a home.

May 04, 2018 04:55 AM #5
Rainmaker
4,562,540
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thanks for stopping by.

Please be sure to leave comments at the original blog by Joan Cox

May 04, 2018 05:00 AM #6
Ambassador
3,636,497
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Many people are on the fence of whether to rent or buy. This is a very good post to help them decide.

May 06, 2018 06:42 PM #10
Rainmaker
4,562,540
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Your feedback is always welcome and is very much appreciated.

May 07, 2018 04:21 AM #11
Rainmaker
4,562,540
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs
View the "State of the City" Onlinesoc
Mayor Jud Ashman delivered his State of the City addresson April 26, telling several stories that shed a light on who we are as a City and the principles that guide us. Awards were presented to Distinguished Citizen Michael Bucci, Distinguished Friend Larry Luhn, and Outstanding Organization, the Chinese Culture and Community Service Center. The evening also served as the introduction for Junior Mayor Zayd Salahuddin, with parting remarks from outgoing Junior Mayor Purani Kannan. The Mayor's remarks are available online and the full program is available for viewing on the City's YouTube channel.
May 12, 2018 08:14 AM #12
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

May 16, 2018 11:22 AM #13
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