My recommendation is to Buy and after 3 years, sell if you need to. After 3 years, you will be paying more for rent and they constantly go up yearly. Mortgage is steady and the housing market is going up. In three years, you may make a little profit.
You can call me and get pre-approved for a mortgage if you like.
Brenda Beal 352-217-8398
I agree with the other respondents. Rent first, then buy. You mention that you have a young family. If schools are important to you I might check out areas based on the schools in different areas. There is a world of different types of living arrangements in Tampa- on the water may mean at the beach, with a canal behind you, or a pond. On a golf course- there's plenty of those.
Tampa is a bustling town with lots of transplants from other areas of the country. Your ID indicates Tampa, so I'm not sure where 'out of state' is, but you may have a tendency to want things similar to where you hail from. There are all kinks of neighborhoods within commuting distance of USF hospitals so it would be worthwhile to narrow down that criteria a little further.
For all of those reasons, I'd say rent first. But then the question is- where to rent? Maybe one of the neighborhood areas that SEEM to be what you're interested in. Setting up a client portal might help you understand some of the neighborhood 'personalities' . Good luck and welcome!... more
Should I rent or buy a home? There are a number of calculators on the Internet to help you reach a decision, but some get quite complicated and others do not factor in necessary information.
Buying a home has been the American Dream for generations, but people often buy homes for reasons that have little to do with finances.
A positive argument for renting would be flexibility -- you are not tied for years to a particular address/area. If a job promotion takes you to another part of the country, you don't have to wait to sell your home to move. Many financial experts say it makes more sense to rent vs buy if you do not plan to stay in an area for more than 3 years, others say 5 years.
A negative argument against renting could be the increasing rental rates in the Tampa Bay area. Plus, any appreciation of the property's value goes to your landlord, not you. And if you have a pet or pets, renting can become even more difficult as many landlords will not accept pets or want hefty pet deposits in addition to the regular security deposit.
When comparing home buying vs renting, be sure to factor in ALL costs associated with home buying, not just the mortgage payments. Insurance, property taxes, property maintenance expenses, HOA or condo dues should also be factored into the cost of buying a home. Replacing roofs and AC systems can take a big chunk out of your savings.
There is no one right or wrong answer to the rent or buy question, it really depends on your personal finances, future plans and preferences.
I always consider buying a more financially smart decision if you can find a home that is affordable and a good deal. Especially if you plan to get a job after you finish college you will be putting money towards something instead just using it to live that month. Make sure you do your research or use an agent to help you find a house that is a good deal. That way when you finish school and decide to sell you can potentially make a profit. Many students buy and then rent out to other students to cover their mortgage bills. For example if you bought a 3 bedroom home you could rent to 2 other students and then cover the payments using their rent money. I would contact student services at your new school as well and see if they have any recommended neighborhoods that students live in. Good Luck!
This can be a great option for many who can't buy right now but would like to secure a deal at these current low prices.The problem is, many realtors will claim these options are not available because 1. they want to get paid now. 2. they don't know how to locate and are clueless as to how to structure these deals. ............................Tampa does have these options and I know of the realtors who have enough knowledge and the skill level to help you find and negotiate a deal on a nice home. Contact me to talk about ways to structure a lease option or lease purchase, so that you can minimize financing issues later on. WWW.PRO-OPTION.COM... more
Hello. I like the North Tampa- Tampa Palms Area. I moved from Fort Myers to Tampa this winter, am a Realtor and a Student at USF. The opportunities to get involved with the university are great and the connections to the freeway system and the access to all SWFL has to offer is great.... more
daneliamunguia, this greatly depends upon what lifestyle you are seeking. There are different types of condos. The most familar style is a unit situated in a mid rise or high rise. There are also villas and stand alone homes which are condos. It depends upon how the developer submitted the papers when the project was being developed.
The big difference is that a condo offers common areas; recreational facilities, swimming pool, fitness center, clubhouse, golf course(?) which you pay a per centage in your monthly maintenance fee to use and enjoy.
The condo monthly maintenance fee also includes other features such as; basic cable, pest, reserves, manager, possible water/sewer/trash. Although the montly fee may seem high, if you breakdown the expenses, by line item you may discover it is the same as those expenses you would pay living in a single family home.
Some people want the convenience of putting the key in the lock arriving home and that it. In a single family home there will be some thing that requires your attention, the yard, pest control, the pool.
Both lifestyles offer something slightly different, it really depends upon you. Personally I have lived in a low rise condo, a high rise condo, and single family home(s). Each one was perfect while living there.
It is really up to you.
Brock Realty Inc.
Rafi Footeman, Sounds like he needs something in a hurry. Financing will take 30 to 45 days not realistic. Finding a rental seems most practical, there may be short term housing available through MacDill to help him get situated.
Gandy is close to MacDill and offers a broad variety of housing options. South Tampa is expensive. Rentals right now are at a premium.
Sounds like you are a caring concerned Aunt, proud of her nephew. Thank him for his service.
Brock Realty Inc
If you'd like to search the MLS like an agent in real time, you can visit our website and sign up for a free Listing Book account. You will be able to change the search criteria to suit yourself and received morning reports regarding new listings, price changes and recent pendings.... more
Yes, Ellis, and either way can build equity at lightning speeds compared to the snailâ€™s pace of a conventional loan. You also have a real person on the other side of the table with whom you can negotiate any terms that work for you, as opposed to the pretender lenders who have no vested interest in completing the transaction other than the fees they collect. They both represent true free market conditions. Don't be dissuaded by someone elseâ€™s ill-informed rhetoric.... more
Annette, in 2013 the real estate market will be completely different than today. To begin researching the area, go to City-Data.com (tampa). There you will find oodles of information regarding tampa, tampa bay, hillsborough and surrounding areas. The comments are written by the public in answer to posted questions. You will also be able to find statistics and charts pertaining to the area.
If you are interested searching the MLS like an agent in real time, you can sign up at our website for your free listingbook account. This way you can follow the real estate market while you are in New Hampshire.