Thank you Deanna:
Unfortunately there is an enormous demand for rental property right now. Rental rates are being pushed upward rather rapidly.
Essentially in this valley there never is a good time to look for rental property.
I recommend that you consider a purchase using a 30 year fixed rate loan. Mortgage rates are the lowest that they have been in 50 years. Those rates will be going back up in the future because of inflationary pressures, and those rates will not be coming back down.
If you purchase your home with a 30 years fixed rate loan now, you will lock in your housing costs and you will have your housing costs predictable and you know that the payments on your mortgage cannot go up.
However with rents, we know that the rents will continue to go up. In a few short years the cost of your mortgage will be much less than you would be paying in rent for a similar property..
Charles Butterfield MBA
Real Estate Broker/REALTOR
Cell Phone: (408)509-6218
Email Address: firstname.lastname@example.org