Then once you are comfortable with the financing side of the equation you can take a serious look at whether now is the right time for you to buy. Interest rates are low and there maybe, depending on your location and price range, a good deal of inventory.
Good luck and if you are looking for a ReatlorÂ® or a local mortgage professional to help answer some of your questions please feel free to give me a call.
If you are serious about buying, it would be a good idea to get qualified with a mortgage professional, see how much home you can afford (and at what monthly payment level you are comfortable), then take some time to see exactly what you can get for that amount. Don't forget to also budget time and money for maintenance, upkeep and if necessary, updates. Although it is easy to point out the advantages of homeownership, it is not for everyone and you will want to be fully informed before you move forward.
How long do you plan on being in this area?
If you have a 7-10 year time horizon - Buy
Less than 7 years but more than 3 - Depends on specific property and location
Less than 3 years - RENT
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Licensed in Maryland, Virginia and Washington, D.C.
Assisting Homebuyer's and Seller's for 28 years
Rent the one bedroom if you are planning to start a family in the next year or two, buy the single family if you want to take advantage of the rates and ownership benefits for the medium to long term.
What inventory have you viewed in your price range and how long would you lease/live in the area?