Vadnais Heights rental homes will usually have the advantage that you can get out of a lease arrangement within 12 to 24 months. Remember,however, there is a cost to this advantage , in that your rental payments will often exceed those of a house payment. Additionally the security deposit may well be in excess of the necessary down payment cost required for buying a home after considering all of the down payment assistance programs available. Finally, perhaps the real cost in renting is the fact that you are helping someone else buy their home with your rental payments helping make THEIR house payments.
Still, the advantages of renting may be worth it to rent if you have plans on moving again at the end of your lease. I tend to think that if you buy a home today you should plan on staying in it for a few years while the market develops.
With all of the benefits available to the MN first time home buyer today, this list of benefits is long. The State of Minnesota now offers special loan programs through its Minnesota Housing Finance Agency to offer reduced interest rates as well as down payment assistance. Additionally many communities today offer additional down payment assistance loans or grants that both reduce what you need for cash to close as well as reducing your monthly payment.
One of the more important factors in buying a home these days is to get preapproved for a loan. Many buyers leave this part to the last minute Most buyers leave it to the last minute But itâ€™s very important, especially for the MN first time home buyer to get preapproved for a mortgage before beginning the search for a home. Please call or email me and I will help you get started in the process with a Minnesota mortgage banker.
Located just north of downtown St. Paul, Vadnais Heights ,MN is a beautiful smaller suburb in the Twin Cities Metro. With an easy 20-minute commute to all of the attractions of the larger city, residents here also enjoy the feel of small Minnesota town. Living in Vadnais Heights means you'll have easy access to more than 100 acres of parkland spread across 14 city parks. With plenty of affordable housing, MN first time home buyers may benefit from the Ramsey County First Home program. If you are interested in buying or selling a home in Vadnais Heights please give me a call.
If you have not yet thought of buying a homes I would like the opportunity to discuss with you about the benefits of both rental homes in Vadnais Heights versus buying a home. I offer a free, no-obligation consultation and am eager to help.
Sales Executive, Licensed Realtor in MinnesotaÂ
Century 21 Premier GroupÂ
1660 S. Highway 100, Suite #578
St. Louis Park, MNÂ 55416
With a focus on Twin Cities real estate and surrounding communities.