A report last week showed that 65% of homes on the market are affordable by potential homeowners, but in larger cities that have experienced high growth, affordability is much less.In cities like New York
If you are looking to purchase a home in South Florida, perhaps I can assist you.Â I am a native of the region and know the market very well.Â I would be happy to helpÂ you find a home here in
Let's dispel the myth, "today's market is a good/bad market to . . ." one's timing and the market have little to do with one another. Either one is ready to buy a property or one isn't ready--and that happens in every market. People were buying during the previous seller's market, and people are buying now.
The decision of whether to do a lease-option versus rent is more a matter of one's taste, timing, resources, and 5-10 year outlook. In a way, one can view a lease-option as rent++ or "try before you buy" housing. One has a lease in either case; however, the key difference between the 2 is that the lease-option also gives the tenant/buyer the opportunity to purchase that property at a specific price (that's locked in for a certain amount of time). Of course, that opportunity to lock the price doesn't come for free--hence the option fee.
If you could see yourself living in that TH for at least another 3-5 years, then the lease-option might be better for you--especially if you also have enough to cover the option fee, first and last months rent, and the security deposit. Also, prepare to pay an additional amount per month (aka a rent premium) that will be applied towards the balance along with the option fee--provided you exercise that option. On the other hand, if you only see yourself living in that TH for 1 year or less, or if you can't afford the rent premium and option fee, then you should rent instead.... more