State Wide Realty Discusses:
Buying Versus Renting A Home
When Looking For A Home Is It Better To Buy or Rent?
The answer will be what is best for your specific situation during the time you are looking.
Why Renting May Be the Best Choice-
An individual may only be in an area for work for a limited amount of time so investing in a long-term home is not feasible.
A person’s credit needs some work in order to obtain a loan and make a down payment. Things such as a high debt to income ratio, bankruptcy or foreclosure can impact your credit negatively and may delay your ability to purchase a home.
An individual may not want the worry and responsibilities of maintaining and repairing a home.
Why Buying May Be the Best Choice-
You are in or moving to an area where you want to live and work for the foreseeable future.
A person has steady income, a good credit score and can provide a down payment of at least 5-10 percent of the purchase price.
An individual is prepared to handle the maintenance and repairs associated with owning a home.
A person can answer yes to the following statements:
Have been steadily employed for over a year?
You plan to live in the home long enough to build equity?
You can provide a down payment and still have money for closing costs, utilities and furnishings?
You are current on all debts, including other loans, credit cards, bills?
You can afford a monthly mortgage payment, real estate taxes and insurance?
Making the decision whether to rent or buy is a personal one and there is no one size fits all answer for everyone. The best choice is the one that is right for you.
Is Your Choice To Buy? Then let State Wide Realty Co help you find just the right place. Call 434-392-6163 or visit www.VaStateWideRealty.com and let one of our 16 agents with over 400 years of combined experience work for you!
311 East Third St
Farmville, VA 23901
434-392-6163
www.VaStateWideRealty.com
Comments(1)