Dakota County rental townhomes 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 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 Dakota County townhomes after considering all of the down payment assistance programs available for first time home buyers. Finally, perhaps the highest cost in renting a townhomes 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.
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 critical first steps in buying a home is to get preapproved. Many buyers leave this part to the last minute partly because it is the least fun of the whole process. But itï¿½s very important, especially for the MN first time home buyer to get preapproved for a mortgage before beginning the search for a home. Please email me and I will help you with getting started in the process with a Minnesota mortgage banker.
Dakota County, situated in the southeastern portion of the larger Twin Cities area, is the third largest county in Minnesota. Some of the largest cities of the county include Burnsville, Apple Valley, Eagan, and Lakeville. The county seat for Dakota County is situated in Hastings,MN. As one of the fastest growing areas in the Twin Cities real estate market, the population has more than doubled in the last 30 years. MN first time home buyers benefit from affordable home prices in the area as well as the down payment assistance from the Dakota County First Time Buyers Program.
If you have not yet thought of buying a townhomes I would like the opportunity to discuss with you about the benefits of both renting versus buying. Please take the first step which is to call or email me.
Sales Executive, Licensed Realtor in Minnesota
14451 Founders Lane
Apple Valley, MN 55124
With a focus on Apple Valley real estate and surrounding communities.