My family and I are currently living in Bronx, NY looking to relocate to Orlando. Should we rent or purchase a home?

Asked by Rudy Francis, Bronx, NY Sun Jun 30, 2013

Would like to make sure that the schools are good. We have been looking in the 32828 area.

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16
Vincent Paige…, Agent, Orlando, FL
Sun Jun 30, 2013
Rudy,

Here are the school ratings
http://www.usa.com/32828-fl-public-schools.htm

It also depends on your financial/credit situation, and how long you plan to live here.

Cheers,

Vincent Paige |REALTOR® | RE/MAX Showcase
Certified Broker Price Opinion Registered Agent (BPOR)
Florida Military Specialist (FMS)
8934 Conroy Windermere Road | Orlando, FL 32835
Direct: 407.256.8190 | Fax: 407.264.8073
E-mail: vince@thepremiumproperties.com
1 vote
simi1951, Home Buyer, Orlando, FL
Thu Sep 19, 2013
I can show you all over Orlando and the best places to live call me please 407-427-3495
0 votes
Eileen Eskew, Agent, Orlando, FL
Tue Sep 17, 2013
Rudy,
Financially it is better to buy vs. rent in Central Florida because the projections for price and interest rates are to rise within the year and continue within the next 4 years. It depends on your situation ie: do you plan to stay in Orlando, or will you need to move again in the next two years ? Do you want the responsibility of home ownership or would you prefer a maintenance free condo ?
0 votes
Shannon Gust…, Agent, Orlando, FL
Sat Sep 14, 2013
Rudy,

I agree with Natasha that if you are able to buy, then now is the time. In the last year homes prices in Orlando have gone up 25% and do not seem to be slowing down. Interest rates are projected by the most recent Forbes article on mortgage rates, on 9/11/2013, to rise 1% in the next year. The National Association of Realtors agreed with this projection. This means a $200,000 home would cost you an additional $123.00 a month next year. That's not taking into consideration the increase in prices next year over this year. No one can really guess where home prices will be in the future, but there is definitely a trend upward in the area.

Please contact if you need any further help or have any questions about the area. I specialize in finding families wonderful communities to raise their children in.

Shannon Gustafson
Keller Williams Advantage Realty II
http://www.YourOrlandoDreamHome.com
407-970-2717

PS-Here is the article I was referring to: http://www.forbes.com/sites/trulia/2013/09/11/how-long-befor…
0 votes
Natasha Mann, Agent, Lake Buena Vista, FL
Tue Sep 10, 2013
Rudy, if you have cash for the downpayment, the answer is simple: buy.

Interest rates are still low, the prices are still going up, and today you can get a better deal than tomorrow.

32828 is nice. If you are looking for good schools, you might also want to check Dr Phillips, Windermere, and Winter Park areas.

Sincerely,

Natasha

PS: If you have any questions, you can contact me anytime at: 407-970-8245.
0 votes
Lori Rivera, Agent, Orlando, FL
Sun Jul 7, 2013
Afternoon Rudy,

With all the different loan products for that specific area, you definitely have some options.

But, I do agree, it all depends on your individual circumstance. If you have a job set up already, I would definitely do some research(I can bring you some literature if you'd like) and buy if you can.
OCPS(Orange County Public School) has a great website, and with over 30 magnet and charter schools in addition to public and private facilities- you have a wide variety to choose from.

If the job situation isn't secured or shaky, renting may be a better choice. Again research is the best place to start, but there's nothing like actually walking down the street to get a feel for a place. Rentals have gone up in price and down in availability as well.

Interest rates are definitely going up. I've seen it first hand-in my last two closings. If they hadn't locked in when they did, it would have been .5 higher-that was in a month's time! According to new legislation, original loan documents are no longer necessary for a bank to foreclose on a property. That to me, means that we should have access to the shadow inventory that we haven't had previously. Prices in the majority of 32828 are going up. I lived there over 13 years, raised my children there, participated in many community events, and am still only one zip code away.

Please feel free to contact me with any questions.

Texting is fastest :)

Lori Rivera
Realtor, FMS, ABR, CDPE, GRI
Member of GRECO

407-617-2544
seoh.rivera@gmail.com

http://www.2ndhomemarkets.com
0 votes
Rizza Gloria…, Agent, Orlando, FL
Fri Jul 5, 2013
Hi Rudy,

I believe that it's on a case by case basis. Everyone's situation is different as far as whether or not to make a purchase or rent first specially when you're moving to a different state.
Feel free to contact me directly to discuss you're individual situation and options for your family. I will also be in NYC a few days this coming week if you'd prefer to meet in person. I am very familiar with the 32828 area and lived on that side when I moved to Orlando.

Rizza Gloriani
Ameriteam Realty, Inc
Downtown Orlando

Email- Rizzatg@Gmail.com
Call/Text- 407-864-8997
http://www.facebook.com/OrlandoHomeBuyingAdventure
http://www.RizzaGloriani.com
0 votes
Helen Weaver, Agent, Kissimmee, FL
Mon Jul 1, 2013
Hi Rudy,

Please contact me directly and I can provide you a list of homes both for sale and for rent in the 32828 area. This can assist you in making a decision on whether to purchase or rent.

I am looking forward to assisting you.

HELEN WEAVER
WATSON REALTY CORP
1950 E. Irlo Bronson Memorial
Kissimmee, FL 34744
E-mail: hmweaver@watsonrealtycorp.com
Cell: 407 202 6944
0 votes
Velita Rolle…, Agent, Orlando, FL
Mon Jul 1, 2013
It depends-will you live here for 3+ years? Do you have an existing mortgage? Can you or how much can you qualify for? Even if you are committed to living here for the short term, you might still consider buying now and using a property management company to rent your property for income after you leave. Now is a great time to purchase property.
0 votes
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Mon Jul 1, 2013
Depends entirely on two things. How long do you plan on staying in the home and what is your financial situation? If you only plan on staying for 2 or 3 years, then rental is probably better. If you can't qualify for a high enough mortgage, then rental may be the only option. Otherwise, in 2013, for sure you want to buy.
0 votes
John Falto, Agent, Orlando, FL
Mon Jul 1, 2013
Rudy,

Welcome to Orlando. I moved from New York City to Orlando back in 2003 and I sometimes still feel like I am on vacation.

In any case, to answer your question: it all depends on you.

If you are relocating from New York as a job transfer, then you already have a job waiting and know where you will be working. These are two strong plus marks.

If you feel that the move will be long term then I would recommend buying.

If you are not sure or feel that you will be here for two years or less, then rent.

If you do plan to buy and you need financing, you may want to consider making the purchase before you actually make the move. Your lender will classify the loan as a second home even if you are renting in NYC because NYC would still be your primary resident state.

I mention this because although rates are good an prices going up, lenders are still very strict with lending requirements. I have seen some 700 plus credit scores get turned down.

Who have you discussed a mortgage with, if you do need financing?
0 votes
Abraham Bidh…, Agent, Orlando, FL
Sun Jun 30, 2013
Hi Rudy:

Congratulations on your move. I am sure you might have heard this by now but we have had ~10.5% price appreciation in Florida last year alone (that is the average some areas saw appreciation of up to 15 to 20%). We are on schedule to do as much this year. So by buying you would be able to enjoy the potential appreciation. Below is the link to some homes in the zip code:
http://abidhendi.orlandopropertiesonline.com/listings/proper…

I have a lot of clients from NY, feel free to review my recommendations by click on my pictures. Please feel free to call or email me with any questions.

Abraham Bidhendi
Top Producer Realtor® with over 26 years of experience
Awarded as Exit's TOP Buyer side Transactions for the State of Florida
We have had 142 successful transactions during the past year alone.
Exit Realty Access, LLC
Direct: (407) 744-2533
Fax: (407) 444-9925
Email: REOsofflorida@msn.com
Website: http://abidhendi.orlandopropertiesonline.com
Kissimmee Office: 391 N. Main St., Kissimmee, FL 34741
Altamonte Springs Office: 660 Palm Springs Dr., Suite D, Altamonte Springs, FL 32701
0 votes
Gloria Gibson, Agent, Orlando, FL
Sun Jun 30, 2013
the problem I think with purchasing a home is trying to find the area where you want to live. Given, there are lots of good neighborhoods in Orlando, my question to you is are you familiar enough with the area to choose which neighborhood you want to hang your hat in. That would be my only fear if I were in your shoes. other than that, it is a great time to buy a home and when comparing the price of rent to the price for a mortgage, you would do lots better with the mortgage. keep in mind that the interest rates and home prices are rising and in order for you to get in on it while there is still time, it would be good for you to move now.

Gloria
0 votes
Karen Weathe…, Agent, Orlando, FL
Sun Jun 30, 2013
Hi Rudy,

If you are already familiar with Orlando and have an idea of where you would like to settle, I would recommend purchasing a home. Reason? Prices, although rising, are still significantly low. If you will be securing a mortgage to buy a home, interest rates, although rising, are still very low. It’s a win, win situation. As an agent who specializes in both residential sales and purchases, I can tell you, you can get a nice home for the price you would pay to rent a home here in Orlando. Hope this helps! If I can be of further assistance, please feel free to call or email me. Have a great week!
0 votes
Carol Bauza, Agent, Orlando, FL
Sun Jun 30, 2013
Hi Rudy,
With mortgage rates still being rather low and with home prices on the rise I would recommend buying.
If you know the area you want and have a realtor who can work with you that is half the battle.
32828 is a great area! I have sold a few homes there! I have also helped a lot of clients relocate to this area!

If you need help, please feel free to contact me!

Carol Bauza
Charles Rutenberg Realty
carol@carolshome.com
0 votes
Raquel Berdi…, Agent, Oviedo, FL
Sun Jun 30, 2013
Rudy


I would suggest you do whatever makes you feel most comfortable.
Both are possibilities, with buying probably being the cheaper option in the long run.
0 votes
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