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Rent vs Buy in Multnomah County : Real Estate Advice

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Sat Dec 11, 2010
The Stephen FitzMaurice Team answered:
I'll make this simple.

You can now own a home for less than it would cost to rent the same home (statistically).

The only reason you wouldn't buy now is if you weren9;t playing on staying in the area for long. ... more
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Mon Oct 11, 2010
Mark Aalto answered:
I like Karla's idea of seeing what homes are renting for in the area. If the property will cash flow and you are not emotionallyh attached to it, you might want to consider renting it out. Being a landlord is not for everyone but it certainly is something to consider.

If you do decide to sell, you are likely to sell for more now than if you wait until a later period of time. I see that someone else already mentioned that whatever you lose on the sale you may be able to pick up on the purchase. You didn't state how much you owe on the home or whether you are in a position where selling is even feasible.

If you have a lot of equity in your home, a lender will consider the rental cash flow towards qualification. If you don't you'll need to rent the home out and show a history on your tax returns of renting it before a lender will use any cash flow. Make sure you are getting good advice about this part of your scenario.

In any case, good luck!
... more
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