Home Buying in Orlando>Question Details

SMC, Home Buyer in Orlando, FL

My job has me relocating to Orlando, is it a better time to rent or buy?

Asked by SMC, Orlando, FL Thu Apr 25, 2013

Help the community by answering this question:

Answers

17
Fred Price’s answer
I suggest purchase while rates are at an all time low and use a renovation loan. Properties have aged and with a renovation loan you can build instant equity...which has not been the case in this market for the last five years! Now is the time...
0 votes Thank Flag Link Sun Apr 28, 2013
For the same rental price you can own in Orlando's market now. Here is a list of homes May 2013 that sold by zip code and neighborhood Enjoy! http://c.ymcdn.com/sites/www.orlandorealtors.org/resource/re…

Tom Songer & Associates strives to provide, with total commitment, the highest quality service, in a traditional yet progressive manner, combining time-honored policies with state-of-the-art technology. Without losing the interpersonal skills necessary to sustain superior levels of customer and client satisfaction we assist our clients in achieving the best possible results from real estate transactions of all types. In all of this, we intend to continue solid growth and corporate profitability through exceptional performance

Slogan

A leading full-service real estate team serving the local as well as the corporate world for over 25 years
0 votes Thank Flag Link Fri May 10, 2013
Rental rates are comparably high. If you qualify for a mortgage it is a good time to purchase in Central Florida while rates are low and the home prices on standard listings are rising. There are still many short sales & foreclosures to look at too. Where are you relocating from, and are you familiar with the Orlando area communities ? I work a lot with relo people, and work mainly with buyers.
0 votes Thank Flag Link Fri May 10, 2013
It's a great time to buy. Prices are low and interest rates are fantastic, however, if you do not know the Orlando area, in my opinion, you may want to rent first before taking such a big step.
0 votes Thank Flag Link Fri Apr 26, 2013
Dear SMC,

It is surely a great time to buy and in the long run it would be less costly than renting. But with that said, how well do you know the Orlando area? Do you know where you want to live?

If you would like to tell me what you are looking for in a home (size, amenities, price, schools, etc.) and where you will be working, I can to help you. Yes, interest rates are historically low and prices are definitely inching up. So it would probably be more costly to purchase in the future.

Now comes the reality. If you do not know the Orlando area that well, it may be advantageous for you to rent for a year and get to know the area better. This way you can take your time and get a better idea of where you might like to settle.

Either way, contact me and I'll be more than happy to discuss your move with you.

Best Regards,
Marc Grossman, GRI
Broker/Owner – Marc It Sold! – A Certified LGBT Business Enterprise
407-463-1034
marc@OrlandoHomes-4u.com

Twitter: @mgrossfl
Facebook: MarcGrossman1

Blogs:
http://www.RealEstateMorsels.com
http://www.RealEstateOffTheLeash.com
http://www.RealEstateCracker.com

2012, 2011 – Highest in Service & Overall Satisfaction – Orlando Magazine
0 votes Thank Flag Link Fri Apr 26, 2013
Buy, hands down. Mortgage rates are historically low. Just spent time with a father and son. Son will work at Disney and father's conclusion was that it was a "no brainer" to buy his son a property give the current rates and how low that makes the mortgage payments. Dad is right!
0 votes Thank Flag Link Fri Apr 26, 2013
Prices have been increasing for close to 24 months, inventory is low, interest are low. Anything you purchase now has a very good chance of building equity fast. Although you will still be able to get a loan if you are relocating with the current company, it will be much easier to purchase before you actually transfer. If you were not transferring , you would have to wait 2 years before you could get financing to purchase. Of course that is not a concern if you plan to purchase Cash.
0 votes Thank Flag Link Thu Apr 25, 2013
Hi SMC,

On the way home I heard a lender offering 2.5% interest on a 10 year loan with 5% down. On a $170,000 property that translates into a monthly payment of $1,536. And in 120 months you own it free and clear. With rents ranging from $1,100 - $2,500 in the market it makes since to buy rather than rent.

Michael D. Bellamy, P.A.,
REALTOR®, SFR, BPOR
Charles Rutenberg Realty, Inc
1900 Summit Tower, Ste. 220
Orlando, FL 32810


407.536.MIKE(6453) (direct)
407.622.2122 (office)
407-567-7551 (fax)
michael@michaelbellamy.net
http://www.michaelbellamy.net
"The Standard of Excellence"
0 votes Thank Flag Link Thu Apr 25, 2013
Hi! In my opinion I would tell you that it is the time to buy! homes are increasing in value and there are so many programs available to new home owners in Orlando and Orange County. For Example, Wells Fargo is encouraging buyers by offering the Neighborhood Lift program. This program offers up to $25,000 assistance towards down payment or closing cost. It is a great program! If you need any help looking for the right property for you, don't hesitate to contact me. I'll be more than happy to help you find the home or apartment that is right for you.

Lorena Correa
Real Estate Agent
Keller Williams Advantage Realty III
407-415-9170
lorenacorrearealtor@gmail.com
0 votes Thank Flag Link Thu Apr 25, 2013
In my opinion, it is the BEST time to buy! Mortgage rates are at historic lows and prices are still low (although rising). If you think you will be here long enough, and think you will eventually purchase something down the road, you should do so now as it seems prices will only conitnue to rise! If you can afford to buy, you should!
0 votes Thank Flag Link Thu Apr 25, 2013
Joanel Guerrier, millennium realty center, Orlando, FL
Hello, if you will be staying for more than 3 years then it is in your best interest to buy. Let me know if I can help you. (321) 746- 5904. Thank you.
0 votes Thank Flag Link Thu Apr 25, 2013
My recommendation to you is to rent for one year. Get familiar with the area if you have children learn about the different schools. Make sure you like your position and area you are living in. Feel free to call me at 305 933 9033 office 303 785 7500 cell. Would be happy to discuss in detail.
Steven@lindamarxrealty.com
0 votes Thank Flag Link Thu Apr 25, 2013
if you are moving hear for a few years and have the downbayment , then buy. Let me know if you needs halp with a loan and we can start the process
0 votes Thank Flag Link Thu Apr 25, 2013
It depends. If you know you will be staying here in Orlando, then my suggestion is for you to buy. The market is at a point right now where property values are on the rise and inventory in general is low. Supply and demand, at their finest. But there are still some good deals out there!

Call me or send me an email to discuss...or check out my website to search for available homes in Orlando/surrounding areas.

Warm Regards,
Diana M. Perez, J.D.
Broker/Owner | Professional Real Estate Team, LLC.
22 West Monument Avenue Suite 18
Kissimmee, FL 34741
Direct:(407) 729-3560 | Fax:(407) 933-0731
E-mail: Diana@ProfessionalRETeam.com
Website: http://www.ProfessionalRETeam.com
Facebook: http://www.Facebook.com/professionalreteam
LinkedIn: http://www.Linkedin.com/in/pretdianaperez

Certified Distress Property Expert (CDPE), NAHREP, MWBE,
REO/BPO Certified
0 votes Thank Flag Link Thu Apr 25, 2013
Renting a home is more economical if you do not plan to stick around for more than five years. Mortgages are front loaded in favor of the lender and you spend most of first ten years paying the upfront interest.

Best of Luck,

Maria Cipollone

http://www.Flahomespecialist.com
0 votes Thank Flag Link Thu Apr 25, 2013
YES THIS IS THE PERFECT TIME TO BUY REAL ESTATE IN FL SINCE HOME PRICE HAVE BEEN INCREASING. PLEASE CONTACT ME AT 407 375 0304 FOR MORE INFO.

http://WWW.TRICIAMASIHDAS.COM.
EMAIL: TRICIA@TRICIAMASIHDAS.COM
0 votes Thank Flag Link Thu Apr 25, 2013
SMC,

Depending on your needs and area its cheaper to buy but that is changing as prices rise.

Hope this helps,

Dave Lowe, real estate broker / owner
davelowe@OrlandoHomeStore.com
407-451-3145
Graduate Realtor Institute
Certified Distress Property Expert
Real Estate Property Management
Internet Marketing Specialist

I offer buyer rebates to help with your closing cost.
0 votes Thank Flag Link Thu Apr 25, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer