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Rent vs Buy in Idaho : Real Estate Advice

  • All54
  • Local Info3
  • Home Buying28
  • Home Selling7
  • Market Conditions4

Activity 4
Tue Oct 18, 2016
Angelica P answered:
Hi,

At this time, unfortunately, we currently do not have listings for rent to own homes. You may try your luck though and search our website using the Keyword section of the search filter which can be found in the All Filters button. However, these listings are extremely rare.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

http://www.trulia.com/help/ask/


Thank you for using Trulia!

Angelica
Consumer Care Advocate
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Wed Jul 22, 2015
Arvin Sahakian answered:
Hi Mark!

The Buy versus Rent discussion is as old as Democrats versus Republicans, or maybe Left versus Right? In any case...

Here are 5 things (among countless others) to consider that will determine if you are ready to buy a house in Sun Valley:

1. You plan to keep the home for an extended period of time.
2. You are interested in the tax deductions that come with home ownership.
3. Your monthly expenses for the home will be, more or less, the same as renting a similar property.
4. You have a 20% down payment (to avoid mortgage insurance) that will not stretch your limits financially.
5. You like the freedom to make changes to your property, such as landscaping or remodeling.

This list can go on and on, but I think the five above covers most of the preliminary considerations.

There is an article titled "7 Benefits of Owning Real Estate Versus Renting" that you may find useful: https://www.besmartee.com/blog/7-benefits-of-owning-real-estate-versus-renting

I hope this helps!

Cheers
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Mon Jul 1, 2013
Jim Paulson answered:
Quick answer = "It depends". . .

If your looking longer term, buying makes more sense because that way you are paying off your home instead of your landlords home. Also, you get the benefit of tax write offs instead of them.

Short term - typically rent. The 100 year average appreciation of homes in America is about 3.5%. So typically, it would take about 3 years appreciation to cover the cost of buying and reselling.

Look at the cost of rent for a home you might be interested in and then figure out what the mortgage payment would be on the same house. Typically, right now, the monthly payments would be less to buy than rent. Also, via creative finance, I can typically move buyers in Emmett into a home purchase for less out of pocket than their security deposit and first months rent!

I would be glad to help you review numbers specific to your needs if you like.

Best of luck!
Jim Paulson
Owner/Broker Progressive Realty Corporation
208-573-0471
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Sun Mar 29, 2009
Joe Irvine answered:
Give http://www.rentrent.org a try. They show good rental deals within schooldistricts.
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