Hello Carissa,

Renting is always a hard question to answer for me because it will ultimately come down to what is best for you. Buying is always the best way to go in my opinion if you have money for a down payment and closing costs. If you do not have money for a down payment there is always seller assist which means the seller contributes money to assist you with your down payment. When this is done though the sale price usually gets increased so that there is extra money for the seller to give back and you know the saying, you have to give something to get something. Also, owning gets you a tax write off plus there is the equity that you get out of your home over the years which will help you purchase your next home when you are ready. Renting in todays market to me is not a great idea because prices are finally getting back to normal. You wouldn't be one of those owners who purchased when home prices were through the roof and the homes were not worth what they paid for them. There are amazing deals to be had out there but you must be patient. I would also suggest that you take care of your financing before you get out there looking for a home. I always tell my clients, the last thing you want to happen is to find a great home at a great price only to lose it to some other buyer who already had their financing in place. It's hard to get a mortgage right now so its important to get that out of the way. There are some great mortgage programs available as well. Also, you should get your own buyer agent who will be able to do research to let you know if a home price is accurate or not. Good luck and if you have any further questions, I would be happy to speak with you.

Renee Porsia
Associate Broker
RE/MAX ACTION REALTY
(215) 669-0589
(215) 358-1100
http://www.reneeporsia.com

I addition to the previous posters, rental proteries around the coutry are similar to sales prices. What may be $400/month near Atlanta might be $500/month near Pittsburgh, $600/month near Philladelphia, $800/month near New York City, or even $1500/month near Beverly Hills.

You could sell a home in NYC and buy two or three in Harrisburg, PA.

Just my two cents.

Rentals are based on supply and demand much like home prices, and are also related to home values in the area. If you are in a pricier area now than previously for home sales, the rental prices will be higher, too. I am a landlord of single family homes and when I purchase a property to rent out I need to cover certain expenses, minimally my mortgage payment, taxes and insurance. As a landlord I have invested a substantial amount of money to purchase the home, fix it up, and continue to have maintenance expenses. I am looking for long term appreciation to make my investment worthwhile, not trying to gouge a tenant to make money immediately. Multi unit apartment buildings are run differently, usually the owners are looking for positive cash flow from the beginning to jusify their investment. I hope this helps you to understand why landlords ask for certain amounts for rentals. Landlords are more willing to negotiate witha potential tenant who can prove a good payment track record and who is looking for a longer term rental agreement, as that reduces fix up costs between tenants. Good luck in finding something suitable and et me know if this was helpful!

Hi Carissa

I work with renters and also renters who want to purchase the property they are renting. I am local so give me a call 215-356-3926.

Let me know your price range and email address and I can start to look for you.

Dawn Fussell

I would suggest to use our rental portal to find what you are looking for:

http://www.thesomersteam.com/rentals.php

Hi Carissa,

Just like home sale prices, rent prices are negotiable. I work with renters all the time, so if you would like my help, please contact me.

Susan Meyers