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Joe Scherer's Blog

By Joe Scherer | Agent in Dakota County, MN
  • Looking for Golden Valley Rental Townhomes?

    Posted Under: Financing in Golden Valley, Rent vs Buy in Golden Valley, Property Q&A in Golden Valley  |  July 27, 2011 8:52 AM  |  406 views  |  No comments

    Golden Valley Rental townhomes: Should I Rent One Or Buy?

    If you are in the hunt for Golden Valley rental townhomes, hold on for a moment and consider the differences between renting townhomes versus owning. Since it is more expensive today to rent townhomes than to buy one isn’t it at least worth it to consider saving some money by buying a home?

    Golden Valley rental townhomes will typically have the advantage that you can get be released of a lease arrangement in about one year's time. This advantage comes at a cost, however, , in that your rent payments will often times exceed those of a house payment. Additionally the rental deposit may well be in excess of the entry cost required for buying a home when considering all of the down payment assistance programs available for MN first time home buyers. 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.

    The advantages may certainly be worth it, despite the high cost of renting, to rent if you will be moving again to a another city at the end when your lease expires. 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.

    Benefits To Buying Golden Valley townhomes

    With all of the benefits available to the MN first time home buyer today, it is hard to know where to start in terms of listing the benefits. 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.

    First Step: Get Preapproved for a Mortgage

    One of the more important factors in buying a home is to get preapproved. Most buyers leave it to the last minute because it is the least fun part of the entire home buying process. It is always important however, especially for the MN first time home buyer to get preapproved for a hoome loan before searching for a home. Please email me and I will help you with getting started in the process with a Minnesota mortgage banker.

    Golden Valley Information

    The great City of Golden Valley is suburb of the Twin Cities, lying on the western edges of Hennepin County. With major employers such as Tennant Company and Honeywell, Golden Valley, MN is also has the headquarters of Pentair and General Mills. With a well developed Park and Rec department Golden Valley can offer everyone something to do for recreation. Just 15 minutes from downtown Minneapolis people living in Golden Valley have access to a wide variety of social activities. If you are think about selling a home or buying Golden Valley real estate please don't hesitate to give me a call.

    If you have not yet thought of buying a townhomes I would like the opportunity to discuss with you about the benefits of both rental homes in Golden Valley versus buying a home. I encourage you to take the first step which is to email or call me.

    Joe Scherer
    Sales Executive, Licensed Realtor in Minnesota 
    Century 21 Premier Group 
    jscherer1111@gmail.com 
    Cell 612-991-6365 
    1660 S. Highway 100, Suite #578
    Parkdale Plaza
    St. Louis Park, MN  55416
    With a focus on Twin Cities real estate and surrounding communities.

 
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