Should you Buy or Rent in Ann Arbor, Michigan

Hi Missy.  Great post. 

Ken

Hope all is great with you and yours.  The prices are just at the right point folks...BUY NOW, talk to us.  We will help you with all if it. 

nice blog missy! I enjoyed it!

Good to start the thought process. Buying long term will be the way to go but as you said the decision is with the buyer.

I guess "they" would have to decide what they wish to receive from the transaction.  I've met people who feel if they have to stay for more than two years they want to buy, and I've met people who only rent no matter what. One particular couple was paying more in rent than most people pay in their mortgage, yet they refused to purchase a home (although they had more than enough for a down payment). You make very good points and I enjoyed your post.  

The renting vrs purchase discussion is not always a factor about money, though it is hard imagine not having that as a main criteria. I really enjoyed this Missy and it is a perhaps the a reflection of what you saying as we get prepared for the more localism and how the posts will differ in content.

Missy.... this is a great post because no matter what kind of market that we are in, you don't see many realtors who would say that it might be better to rent than to buy, depending on your situation and or your goals.  Nice job,,,,

Missy - renting has become more of a consideration in our area, too - and it definitely depends on the individual, which is where our counseling comes in. When you can rent a downtown luxury condo with a great water view for $4,000/mo and owning it would cost $1-$1.5 Million with monthly costs for property taxes and condo fees at $3,000/mo - hmm. Some European condo owners who get here only for a week 2-4 times a year are also considering staying at the Renaissance Vinoy hotel vs owning a condo a block away.

Missy unless the market is still one the way down or the buyer is going to be there for a shot period of time where they would not be able to re-capture the cost of selling, it still makes the most sense to buy. The tax advantages of owning a home will out way renting at least from a finacial stand point.

Hi Missy, good and thoughtful post. Renting could definitely be an option these days ... especially if the buyer doesn't plan to stay for a few years. ;-) Too, if they've not been in the area and want to get to know the neighborhoods better. Rent is a great option.