Moving in 44139>Question Details

Jasmine Dool…, Home Buyer in Ohio

Should I rent or buy?

Asked by Jasmine Dooley, Ohio Sat Jan 21, 2012

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Robert Erney’s answer
Always buy never rent! There is so many possibility with the right help! Cash rules everything! And well purchasing the right home property is where allot of people make there way for living comfortably! With the right help from the right Realtor there is no telling what someone is capable of! Don't delay if you are reading this please don't hesitate to read more! @ http://rob_erney.russellrealty.com/

I have a property in Brooklyn listed at 69k with 10% down a mortgage that is $400 or less why wouldnt you want to live in a house vs. a apartment? WIN WIN Call anytime!!

Call me anytime Jasmine ;-) i would be more then happy to answer any questions you may have!
And that goes for anyone else out there reading this! ANYTIME ILL BE HERE!

And please recommend me people need to stop using Realtors that just aren't on there clients side! I wouldn't be here right now licensed in two state at my age if it wasn't for what i have done for my past clients!!

http://rob_erney.russellrealty.com/
0 votes Thank Flag Link Thu Feb 2, 2012
That all depends on whether or not you plan on moving in the next five years. If the answer is no, then I absolutely would as interest rates are ridiculously low, as are home values. If however you plan on moving in the next 2-3 years I would hold off, as you may not recoup your cash outlay from the purchase.
0 votes Thank Flag Link Wed Jan 25, 2012
Should you rent or should you buy. Some people say you are throwing your money down the drain when you rent. But there are some instances when you have to rent. Some people can never qualify for a mortgage and others are just not meant to be a home owner. Overall it is almost always better to own your home rather than rent. You build equity and you can write off your mortgage interest.

People that lost their homes to a short sale or foreclosure will not be able to buy for another 2-5 years and are forced to rent. A lot of other people are also choosing to rent rather than buy. This is having an enormous effect on economic recovery. What is holding them back? People need to be able to save enough money for a down payment and qualify for a loan. Some people are looking for a new job, a better paying job, or waiting for a promotion or raise.

If you are thinking about buying now, meet with a lender to see if you qualify. Then take that leap while the market is good for buyers. Interest rates and home prices are the lowest they have been in years.

Tammy Hayes, Realtor
Green Lion Realty
0 votes Thank Flag Link Wed Jan 25, 2012
You have already been provided some great answers from some really great professionals. Now the bottom line is whether or not you wish to be responsible for all the maintenance and upkeep of a home or find one where everything is new or want someone to take care of everything. If you enjoy apartment living, there are some amazing buys in the condominium market these days, even on the far west side in cities like Westlake, North Olmsted, and Fairview Park. I recommend you contact a couple of people who can speak with you without obligation and also a couple of mortgage brokers, banks, or credit unions.
0 votes Thank Flag Link Wed Jan 25, 2012
The real answer is: It depends....on whether you plan to stay in the area for a couple of years; if your job is comfortable and secure; if you are settling down an "nesting". Why not sit down and consult with a REALTOR? We make it a practice to ask the right questions, show you alternatives and help YOU come to the decision that is right for you. If you want to buy, it is a great time to be a buyer - low interest rates, lots of choices in housing and since it is a buyer's market, you can get a wonderful deal. On the flip side, renting works for people who need a short term housing solution. We work with first time buyers and renters daily and there is no "right" answer so sit down with us and we'll do our best to help you sort out the right answer for you! Call, text or email us at The Real Estate Dreams (RED) Team at KW - the Solon Office. 216 973-3993 (Stacy) 216 245 7653 (Diane) or email us at info@REDTeamHomes.com.
Web Reference: http://NEOhioHomes.com
0 votes Thank Flag Link Sun Jan 22, 2012
Jasmine, as Svetlana has said, if you can buy now then in my opinion you should buy. Interest rates and home prices are both very low and a lot of rentals are more expensive right now.
0 votes Thank Flag Link Sat Jan 21, 2012
Jasmine, if you are qualified and can buy, then buy. Look at what is offered for sale and what is on the rental market. It's a very interesting situation now when cost of ownership is much cheaper than cost of rent.
Let's look at the numbers. You can rent a 2 bedroom apartment in Solon today for about $1,000 per month. And you can buy 2 bedroom townhouse with 1 car attached garage for under $90,000, so your monthly payment including principal, interest, any mortgage insurance, property taxes and maintenance fee may be around $900/mo.
If you are looking for a bigger house, then situation is even better for the owners than for renters.
The only reason to chose rent over purchase is if you are planning to stay in the area or a short period of time.
If you need more deep analysis of your situation or any other assistance, please do not hesitate to call me 877-770-5551 x 801. I will be happy to help.
Web Reference: http://Local-n-Global.com
0 votes Thank Flag Link Sat Jan 21, 2012
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