Home Buying in Canton>Question Details

Erica, Home Buyer in Canton, OH

I live in a townhouse and pay rent $1000 plus $200 as utility. is it wise to buy a home?

Asked by Erica, Canton, OH Wed Aug 15, 2012

i make over 120K. but I am not sure how long i stay in Canton. If i need to move in 2, 3 years, will i be able to sell the home?

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Yes, You could own your own house for probably less than the amount you just stated!! The average person sells their home every 5 years! Don't worry about that!
0 votes Thank Flag Link Thu Nov 13, 2014
This is still a great time to buy. Housing prices are still low. Finance rates are very low. There are still plenty of good buys in stark county. In 2-3 years prices are likely to raise a little or remain close to where they are. Buying something modest with a few updates needed that is lower or the same as comparables would be a likely be a safe bet. There are a lot of indicators that the market has bottomed and is going to try to climb up. Contact me anytime and I can offer you advice and get you started.

Karl Hershberger
Remax Crossroads
330-224-2297 Mobile
0 votes Thank Flag Link Wed Aug 15, 2012
Here's my advise and it's worth every penny you paid for it!
Find yourself a local Realtor and treat you search like an investor would. You will find a lot of 'under valued" properties right now. See if you can find one that you like that needs more of an update rather than a full renovation. If you can buy the house and do the updates and keep the total under the neighborhood comparables, then allowing for a steady to rising housing market you should still be good in 2-3 years.
0 votes Thank Flag Link Wed Aug 15, 2012
Yes, especially now that bottom of this market is in. Best to go directly to a local pro at "Find a Pro" in the header of this website.

0 votes Thank Flag Link Wed Aug 15, 2012
While $1200 per month and your salary would get you a very nice $200,000 plus home in this market, you probably should not buy if your plans are to move in the next few years. You would just break even unless you bought one of the many homes available right now at a great price. Our market is very busy right now and we actually don't have enough homes to sell at the moment! Good luck to you.
Web Reference: http://www.davidc.com
0 votes Thank Flag Link Wed Aug 15, 2012
The Canton/Stark County real estate market is looking more healthy, and market times are dropping. I have no crystal ball, but I am recommending this as a good time to buy. It would be my pleasure to sit down with you and discuss this. You can reach me at 330-284-0424 . Pat King with Hayes Realty.
0 votes Thank Flag Link Wed Aug 15, 2012
Hello Erica,
Many real estate economists are stating that now is the time to buy due to very low interest rates and low pricing. The National Association of REALTORS® say that some parts of the country have already hit bottom and that median prices for homes are on the rise. In some instances, it is more affordable to own your home rather than lease as rental prices in some areas of the country are going up because of increased demand.
I suggest that you contact a mortgage broker or lender to determine what you can afford and then work with an experienced local real estate agent to see what properties are available within your budget to help you decide if you wish to purchase or continue to rent.

Good luck to you!

Laura Feghali
Prudential Connecticut Realty
0 votes Thank Flag Link Wed Aug 15, 2012
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