My husband and I want to move.should we rent or buy while we still own a house?

Asked by Bsterrette, 21208 Wed Aug 26, 2009

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Marney Kirk’s answer
Marney Kirk, Agent, Towson, MD
Wed Aug 26, 2009
B, this depends on your current financial situation. Do you need to sell your current home to buy? Is your home already on the market?
Your reasons for moving would be a motivating answer/factor as well, to help you determine if you should sell your current home and maybe rent for a bit. Are you looking for a change in area?
Please let me know how I can help you further.
I have a lot of questions that I would like to ask to find out more what may be the best situation for you.
Thanks so much.
Sincerely,
Marney Kirk
Keller Williams Excellence Realty
Web Reference:  http://www.realtormarney.com
0 votes
Tina Beasley, Agent, Saint Augustine, FL
Wed Aug 26, 2009
That is a very good question. I think that this depends on your personal financial situation. Everyone is different in regards to their personal finances, so giving you advice without knowing more about you is almost impossible. Mortgage Interest rates are still low and there are a lot of homes on the market for you to choose from right now. The market is also picking back up which means that homes are selling better now. Just a good time to buy.

You would have to qualify to buy another home while still owning your current home if you want to buy now. Of course, as some of the other agents below have said, you can list your current home for sale now and start looking. You could even consider keeping your current home and renting it out. Again, that is another personal decision that I cannot advise you about without know more about you. I would need much more information about you and your personal situation before I could give you professional advice. Please feel free to give me a call if you want to talk further.

Tina Beasley
Associate Broker
Real Estate Professionals, Inc.
443-243-1832 Cell
410-918-9740 Office
Web Reference:  http://www.tinabeasley.com
0 votes
Dan McDevitt, Agent, Perry Hall, MD
Wed Aug 26, 2009
It is a great time to buy with rates and prices low. However if you can afford to not sell and you don’t mind being a landlord for a couple of years it would be in your best interest to not sell the home you live in but rent it out. Just make sure you do your background check or hire a good management company to do all of that for you. Bottom line is that if you don’t have to sell, don’t sell. Make the most of your investment but take advantage of historically low prices to take that step up now. If you wait to buy that next home until the value of the home you are in now comes back than you are going to pay more for that next home. Buy and Hold, that is my opinion!
0 votes
Kevin Willner, Agent, Baltimore, MD
Wed Aug 26, 2009
I would suggest listing your house first and cassully looking. Depending on what your current house is worth this is a great time to sell due to the 1st. time home buyers trying to beat the Nov.31 st. deadline for the $8000 tax credit. When you do sell your house you can then take advantage of historically low rates and a high inventory.
0 votes
Darlene Deca…, , Severna Park, MD
Wed Aug 26, 2009
If you can do back to back settlements - sell your existing house and purchase your new home, that is the cleanist way to go but not always the easiest. In order to purchase the new home you might need the equity in your existing home. Find an agent go over everything with that agent, find out what you quality for, and let the agent advise you on which way would make the most sense in your case.
Call me we can sit down and go over all the different variable.
Darlene DeCapite
410-507-0963
Web Reference:  http://darlenedecapite.com
0 votes
Scott Stulich, Agent, Dundalk, MD
Wed Aug 26, 2009
As of now interest rates are low. I do beleive it is a good time to purchase. If your interested, I could list your current property ad also help you find your new home. Feel free to contact me at 443-992-3608
0 votes
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