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Rent vs Buy : Nationwide Real Estate Advice

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Activity 812
Fri Mar 22, 2013
Natalie Filbert answered:
Hi Mike!

To rent or to buy is a great question. Because of low interest rates and depressed housing values in most areas of the country right now it is cheaper to buy that to rent. Check out this recent report right here on Tulia http://trends.truliablog.com/2013/03/rent-vs-buy-winter-2013/

Best of luck on your house search!

Natalie Filbert
The Filbert Real Estate Group
Mountain Realty
Cel. 208-599-1418
Fax 208-379-0379
www.BuyandSellHomesinBoise.com
www.BuyandSellinIdaho.com
www.SearchBoiseReal-Estate.com
www.FamilyGuideToFinances.com
... more
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Tue Mar 19, 2013
Stacy King answered:
Yes, many people who relocate to Nevada City purchase the home first and then rent it out until they make the move. My office has a property management department that could help out in the process. The home prices are low now but are moving upward. Many homes available for sale are priced low enough where you can cover the mortgage payment with the rents you received. Stacy King 530-575-7539 ... more
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Sun Mar 17, 2013
Sarah Goulart Nathe answered:
The question didn't link to the house you are taking about, but as we all say, EVERYTHING is negotiable.
0 votes 2 answers Share Flag
Sat May 4, 2013
Alison Hillman answered:
I speak for myself that while I live in the most expensive city in the US to rent, I haven't bought yet because I don't know what my life will look like in the next five years! I predict that I will get married and have a family, but I am not ready to commit to something so permanent at this point in my life. Hope that sheds some light.

Great question!

Ali, Community manager
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0 votes 8 answers Share Flag
Tue Mar 12, 2013
Tim Moore answered:
Rent to lose is a very bad idea and will be a great way for you to lose more money. To buy you still need to get a loan and so why not just wait until you can get that loan and buy then. That is your best bet. ... more
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Mon Jul 15, 2013
Joel Lobb answered:
US Rural Development


Address: 587 Westport Rd, Elizabethtown, KY 42701
Phone:(270) 769-1555
0 votes 1 answer Share Flag
Sat Mar 9, 2013
Mattie Brown asked:
Mon May 27, 2013
Jenet Levy answered:
In my opinion, the best values right now are on the Upper East Side and in the Financial District. As you may know, we are trending up, and most neighborhoods right now have very little inventory. Properties are routinely sold in multiple bidding situations (bidding wars) for at or above ask. The reason the Upper East Side is good value now is that it is one of the few neighborhoods with abundant inventory and, furthermore, will appreciate in the future with the coming of the 2nd Ave. subway. The Financial District is still developing, though quickly, as a residential neighborhood. There is still room for appreciation there and more amenities are coming to the neighborhood all the time. As an investor, positive cash flow would be up to 5%, if you are lucky.

Best,
Jenet Levy
Halstead Property, LLC
jlevy@halstead.com
212 381-4268
http://jenetlevy.halstead.com
... more
0 votes 8 answers Share Flag
Mon May 27, 2013
Yul Park answered:
Hello Simone,

I've done some work lately in Harlem and areas further north. There are many factors to consider. If you're interested please contact me directly and we can discuss your options. You should definitely talk to a professional about financing first. I have a great contact at Chase Bank. His name is Jason and his info is below.

--
Yul Park
Senior Vice President
Cell: 917-647-2717
Fax: 646-537-2626

RES Sales and Marketing Corp.
320 West 37th Street, Suite 301
New York, NY 10018
www.RESnewyork.com


Jason Han
Chase Mortgage Banker
Cell: 516-459-7826
Email: Jason.han@chase.com
Website: http://homeloan.chase.com/jason.han
... more
0 votes 14 answers Share Flag
Wed Feb 27, 2013
Anja Richardson answered:
With the lowest Interest Rates for the past years and a great variety of homes on the market I definitely would recommend buying instead of renting. Rent prices have increased in the past 2 years.
Of course if you only plan to be here for a short time, maybe a year or two, it might be better to rent.
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Sun Jul 26, 2015
Ron Thomas answered:
Lease/Option
You are desperate!
Your Credit or Finances, or both, will not allow you to go the conventional route:
You need the Seller to help you out!

The Seller will know it, and you are going to pay dearly for this service:
There aren't too many altruistic Sellers out there.

There is no FORM printed by anyone; there are just too many variables.
The terms that can be written into a Lease/Option can be dangerous to you:
How long is the Option period?
How much money are you putting in to the Option?
What happens if you are not able to execute the Option?
How do you know what your financial situation will be 2-5 years from now?
How much is the rent in the meantime?
Who will be responsible for maintenance and repair in the meantime?
What will be the Market Value of the home in 2-5 years?
What will be the Selling price 2-5 years from now?

This is the Ultimate Caveat Emptor!

Good luck and May God bless
... more
0 votes 4 answers Share Flag
Mon Feb 25, 2013
Jacques Ambron answered:
If you are planning to remain in the apartment for any length of time, you are probably better better off with a 2 year lease. Otherwise you will be subject to 2 increases as opposed to 1 even thought the 2 year lease is a little more ... more
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Mon Apr 8, 2013
Shannon Sherman answered:
Here is a good website for Section 8 properties for rent in the Newport News area:

http://www.gosection8.com/Section-8-housing-in-Newport%20News%20City-VA/
0 votes 6 answers Share Flag
Fri Mar 8, 2013
Jenet Levy answered:
Mddoc27,
Yes, it is definitely a good idea as well as a great time to buy and rent out a condo in NYC. Our market has been trending up and inventory is tight, which will only cause prices to continue to rise. That is why jumping in now makes a lot of sense. At the same time, mortgage rates are still low, though beginning to rise, so taking advantage of these historically low rates now is also wise. It is a strong rental market as well, so you should not have difficulty renting out the condo once you purchase it. ... more
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Mon Feb 18, 2013
Tim Moore answered:
The only way to know would be for you to go speak with a loan officer to find out. I doubt it if you just compare rent vs house payments with tax and insurance included (PITI). But ask yourself after 5 years what do you have if renting = answer is Nothing. What after owning for 5 years? The goal is for the house to have appreciated and you have some equity in it now. You certainly won't in the rental house. Owning also provides some tax benefits as well, plus you can borrow on it if you need to. ... more
0 votes 6 answers Share Flag
Sun Feb 17, 2013
Rick DeVoss answered:
What is it you are trying to do? If you want to buy a house, then you need to get your credit score up high enough to qualify for a loan. Do you know what your credit score is? Contact me and I'll show you how to get your score and how to raise it up. (No charge for my consultation.)

If you want to lease a house, then you need to find a landlord who will rent to you with the credit score that you have. Most people who rent a house would never want to buy it later, because they will find out everything wrong with it while they are renting it, and discover that the landlord won't fix anything.

But be VERY CAREFUL if someone offers to take a deposit from you and says you can "rent-to-own" so that it will someday be your house. Usually they get your money and you get the shaft. Such a contract is so complicated and fraught with pitfalls, that the Texas Real Estate Commission will not allow a Real Estate Agent to even write one. You would have to hire an attorney, and most of them are smart enough not to touch it with a ten-foot pole. There are so many loopholes, and ways that people could sue you in court over it, and WIN! ~You don't really want to go that route.

What's the point? If you will do the things you need to be doing, then you can buy the house you want when you get through renting the one you are living in. That's much safer, and your money is then wisely invested. If it is cash you are worried about, I can show you how to buy a house for the same amount of money that it takes to lease a house. And the monthly payment will be less!

So, contact me by phone or email, and I will answer all of your questions, and help you find the right house!

Best regards,

Rick DeVoss

ULTRA Real Estate Services

817-300-6121

RickDeVoss@Realtor.com
====================
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0 votes 3 answers Share Flag
Tue May 7, 2013
Jennifer Rivera answered:
Welcome back :) After spending tours in Germany previously I understand why you may consider renting vs buying. The market is Northern VA is strong; and rental properties priced competitively move very quickly. I would suggest buying due to the low interest rates and that in most cases you can purchase for a lower monthly payment than rent. I would be glad to send you listings for both options to compare. Looking forward to hearing from you.
Jennifer & Carlos Rivera
Realtors & Veterans; Licensed in Virginia
Move4Free Realty LLC
8848 Rixlew Lane Manassas VA 20109
Multi-Million Dollar Club Member, Top Producer
Cellular: (571)208-2349
... more
0 votes 6 answers Share Flag
Mon Feb 18, 2013
Andrew Alajajian answered:
Hello, I will do a search for you and see what I come up with. Are you working with a realtor? If not, I'd be happy to assist in you in a rent-own in Merrimack. I work primarily in Hillsborough and Chesire Counties. I am very familiar with Merrimack.

Andrew T. Alajajian
REALTOR®
RE/MAX Town Square
586 Turnpike Road, New Ipswich, NH 03071
Mobile: (603) 689-4685
Office: (603) 878-3242
Fax: (603) 878-4294
www.townsquarenh.com
... more
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