Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Rent vs Buy in 19104 : Real Estate Advice

  • All37
  • Local Info1
  • Home Buying15
  • Home Selling1
  • Market Conditions1

Activity 13
Thu Jan 31, 2013
Philip J. Cunningham Sr answered:
Please call me at 215-725-5700 X49 so we can talk about your needs.

Philip J. Cunningham Sr
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia,PA 19152
215-725-5700X49
philcunningham2004@yahoo.com ... more
0 votes 5 answers Share Flag
Mon Jul 16, 2012
Philip J. Cunningham Sr answered:
Give me a call and I'll see if I can help you a Rent to Own may not be to your advantage there are other means available to you 215-725-5700 X49

Philip J. Cunningham Sr
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia,PA 19152
215-725-5700X49
... more
0 votes 2 answers Share Flag
Mon Jul 16, 2012
Robert V. Harris Jr. answered:
Sat May 19, 2012
Alan Openshaw answered:
I have properties near Cobbs Creek that I may consider rent to own,

Alan
0 votes 4 answers Share Flag
Mon Apr 23, 2012
Anna M Brocco answered:
Since rent to own properties may not be listed as such, work with an agent of your own. Keep in mind that rent to own can be risky and one could stand to lose a bit of money, therefore inform yourself well beforehand and do consult with an attorney who specializes in real estate. Rather, if you haven't done so yet, why not visit with any licensed loan officer see if you can purchase outright... ... more
0 votes 5 answers Share Flag
Sat May 19, 2012
Roswell Moore, answered:
Hi Jeanell,

Don't sell yourself short! Have you gone to mortgage professional to discuss your ability to qualify to buy this home? Look for a local licensed mortgage planner with a CMPS designation. Just because you changed jobs doesn't necessarily mean you won't qualify for a mortgage.

All the best,
Ros

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite and fund in-house, FHA, 203k, VA, USDA, Jumbo, Conventional, loans to Canadians, Australians & other Foreign Nationals, on time. NMLS ID 263779 | AZ BK 0903725
... more
0 votes 10 answers Share Flag
Tue Feb 1, 2011
Tim Moore answered:
It works best for the owners, keep that in mind.

You find a house, agree to purchase the house at a price a year or two from now. You put down a security deposit that you will loose if you don't buy when the contract says and you pay a monthly amount as rent each month. On top of the rent you will add an option fee of $100-$200 or whatever you agree on and the owner keeps that option fee each month to add to the deposit as your down payment when you purchase in a year or two.

The problems occur when you can not buy in a year or two for whatever reason. The owner then can keep your option money and deposit and out you go. Its better for the seller than you. What makes it worse is that prices have been going down and in a year the values could be lower, a bank might not even allow you to borrow then if the purchase price is too high which will force you to put down even more money or walk away.
I would urge you to avoid rent to own and just save and get in a position to buy when you can.
... more
0 votes 3 answers Share Flag
Mon Oct 11, 2010
Nicole Harris answered:
I don't know of any specific statistics but I will tell you as a real estate professional that if you qualify for a mortgage or you have the neccessary funds to purchase right now. There are some amazing properties available. ... more
0 votes 2 answers Share Flag
Sat Aug 28, 2010
Timothy Garrity answered:
Hi, Lorraine.

I'm not finding any information on the MLS regarding this property. Is there something you're looking for?

Let me know how I can help.

Best,
Tim

Timothy M. Garrity | Brown McKinney Real Estate, Co.
Real Estate Professional & Consultant
www.phillyurbanliving.com

tgarrity@brownmckinney.com Email| www.brownmckinney.com/tim Website
215-825-2250 x 1007 Office | 267-879-2716 Mobile | 267-519-5490 Fax
... more
0 votes 1 answer Share Flag
Tue Mar 16, 2010
Dan Chase answered:
FIRST ANSWER
I would tell you to check the numbers. You might be way ahead by doing either.

I wrote the blog below to help people make that decision. It gives you a common sense way to look at your real numbers and see what really makes more sense for you. It never says to buy or not. It only shows how to look at the numbers to decide.
http://www.trulia.com/blog/dan_chase/2010/01/does_it_make_more_sense_to_buy_or_to_rent_look_at_the_numbers_and_decide_for_yourself
It is possible to check out the numbers and decide to do the opposite thing. It is a decision you must make for yourself. You will live with whatever you decide.

If you decide that was useful I have several other blogs that show different aspects of buying a house from step one.
http://www.trulia.com/voices/profile/Home_Buyer-04401-657306/blog/
... more
0 votes 4 answers Share Flag
Wed Jan 28, 2009
Lesley Denney answered:
Good Evening Steve,

First of all Steve it is great to know you want to be a Home Owner!
The best advise I can give you is to speak to a Real Estate Proffessional in your area, they can then advise you about the whole process of buying a home. Contact an Accredited Buyers Representative, you can find one in your area at www.rebac.org the agents with this designation have taken additional classes geared towards buyers and buyers needs.

If you cannot find anyone, please give me a call or email me and I will put you in touch with a Buyers Rep!

Good luck!
... more
0 votes 13 answers Share Flag
Sat Sep 21, 2013
Terri Black answered:
Possibly. There are many factors to consider in choosing an investment property. Location, local laws and regulations, availability of renters, tax implications, etc. I would suggest finding a good Realtor who would be able to help you make the best decision. ... more
0 votes 10 answers Share Flag
Fri Mar 5, 2010
Chris & Stephanie Somers answered:
Im sure if you ask 10 people that question, you may get 10 different answers. I believe real estate is the best single investment one can make and have seen tremendous equity built over time for many individuals, including myself. The doom and gloom we see on the TV every day regarding the housing market is overblown, especially in Philadlephia.

I think the great news for you is that it sounds like if you did buy the type of property you are looking for, 4 or 5 years from now you could either sell that property or keep it as a rental. That option is awesome and provides for much more flexibility down the road. In the meantime, the HUGE benefits are building equity every month, having a healthy mortgage interest tax deduction every month and participating in the future appreciation of Philadelphia, which I believe will be there !

See our website below for other helpful info.

Good luck !
... more
0 votes 7 answers Share Flag
Search Advice
Search

Followers

639