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Rent vs Buy in California : Real Estate Advice

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Activity 93
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
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
Sun Jan 27, 2013
Cindy Davis answered:
I would say that most are a scam. I still see agents advertising like that.

The primary 'no money down' option is for Veterans with the VA. There are some zero down loans tied to rural areas ...

For most folks however, the easiest way in is through FHA...these loans require 3.5% down...and it's still a good idea to have some of your own closing costs, as well as some saavings.

Here is the link to the FHA to learn more: http://www.fha.com/
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0 votes 3 answers Share Flag
Thu Apr 28, 2016
Keith & Kinsey Schulz answered:
That depends an lots of variables other then VA. Obviously you have the VA mortgage option, but what other kind of benefits do you get as a renter or home owner? Other factors are your local market, your financial situation, how long you plan to be there, etc. See my blog post about deciding to buy a home (linked below), it will have additional tips to make sure you are ready. ... more
0 votes 10 answers Share Flag
Wed Oct 30, 2013
Sylvia Barry, MAS,CIPS,SRES answered:
Hi Ferrisr001:

I help my clients with renting out their homes at times. I have to say that it will be difficult to find a nice house with a large yard that will take large dogs, even though your dog might behave really well. However, it is not impossible as there are many animal lovers in Marin county.

It will probably take some time and you might have to call each owner and find out what they will take though.

Best,
Sylvia
... more
0 votes 2 answers Share Flag
Thu May 2, 2013
Keith Keller answered:
Hi Ferrisr001, Of course it is! I will take it that you are looking to rent in the way you question is worded. So here's the deal. As a long time landlord I can attest to the difficulty of renting to a tenant with a large dog so here's what you do. Offer a dog damage deposit! It should be brought up as soon as you ask if the landlord will take a large dog. Second ask that the landlord come meet your big (hopefully) sweet and lovable dog and be prepaired to show that your dog will follow simple commands like "out " or "sit". You need to demonstrate that you have your dog under control at all times and his or her behavior is not destructive! Finally be ready to do a simple demonstration of you control of the dog so the landlord can be put at ease. And don't for get the old "the dog stays in the garage pitch"... ... more
0 votes 1 answer Share Flag
Fri Oct 5, 2012
Nenita Tee answered:
If you are going back to your country after five years from now, Renting is my option as you just leave the place whereas buying is also beneficial because you don;t loss your money paying rent. But when you are ready to sell and in a hurry to leave, you might be selling your home at a bargain. ... more
0 votes 11 answers Share Flag
Sat Sep 22, 2012
Michael Koenig answered:
Hi dogs9170,
The best way to prevent rent from going up year after year is become your OWN landlord.

Home ownership has never been more affordable. Extremely low interest rates, and relatively low home prices.

Have you thought about buying?
... more
0 votes 5 answers Share Flag
Fri Sep 28, 2012
Cindy Davis answered:
I can understand that. Did you have a question for an agent or was this just a statement?

The decision to rent or buy is very personal to each potential buyer. Things to consider 1) how long do you intend to live in San Francisco? 2) Do you have the credit, the down payment and earnings to support a mortgage in this rather expensive city?

I always suggest renting for a short while upon making a move to a new city. That gives you time to adjust, sort your options out, and figure out exactly where you want to buy.

Do a cost analysis of buying vs. renting. Before even consulting a Realtor, I recommend find a good mortgage broker who can help you work the numbers.

All the best to you.
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0 votes 8 answers Share Flag
Mon Sep 10, 2012
Morgan Larson answered:
Swaps are tough because rarely do two people want the same thing and have homes of equal value. You might try posting to Craigslist. I have seen posts for home swaps on there.

If that doesn't pan out, I'd be glad to help you figure out another plan to accomplish your goals. Call me anytime at 916-241-8788. ... more
0 votes 1 answer Share Flag
Sun Sep 16, 2012
My NC Homes Team answered:
This is a question you should ask your financial adviser. There are going to be negative ramification you'll have to deal with should you walk away from your mortgage. I don't know the Cerritos market well enough to comment on how it's doing, but my guess is that like most markets it will in fact rebound over the next few years and if you can afford to remain in the home it may behoove you to do so/ If you walk away it's going to be a long time before you'd be able to get another mortgage so you'd be forced to rent for many years.

Really sorry you find yourself in this position and hope that whatever you decide to do things work out.
... more
0 votes 3 answers Share Flag
Thu Feb 28, 2013
Craig Chastain answered:
Raquel,

Did you short sale your home or did it foreclosure? What was the date that all was completed.
It is going to depend on what happened with the house as to when you will be able to purchase again.

Please call me so I can get some more information from you and be able to point you in the right direction.

Thank you.


Craig Chastain
Realtor/Owner
Next Level Realty
909.243.4251
sellyourhomewithcraig@yahoo.com
... more
0 votes 14 answers Share Flag
Tue Aug 14, 2012
Ron Thomas answered:
I am not high on Condos and HOAs,
but, buying is better than renting when the Market is moving up.

Good luck and may God bless
0 votes 3 answers Share Flag
Fri Apr 29, 2016
Endre Barath answered:
Great question, how long are you planning on living here? If it is more than 3 years in makes perfect financial move.

Should you have any other questions feel free to reach out to me directly at
homes@endrebarath.com

Endre Barath,Jr.
Prudential California Security
Beverly Hills, CA

301.486.1003(m)
... more
0 votes 6 answers Share Flag
Thu Jul 5, 2012
Patrick O'Hare answered:
This property is currently on the market for sale.
Payments on a mortgage would be close to what
you would pay for rent If you wanted to explore that
option.
0 votes 2 answers Share Flag
Wed Feb 27, 2013
Janna McRoy answered:
Hi Michelle, I just answered your other question about the eviction you had 1 year ago.. So you've been on your job 1 year? What did you do before that? I can tell you that FHA requires 3.5% down, and there are other programs you may qualify for that can help bring the minimum down payment lower. Most importantly, there are some questions I have about your credit and income situation. I'd love the opportunity to speak with you and align you down the path of homeownership.. it may not be as difficult as you think. Call me and we'll figure this out!

P.S. I guarantee you'll get a TON of random answers on here tomorrow, etc.. The best thing to do is to call a professional and get a game-plan, rather than random advice from people who really don't know your situation. Best of luck, Michelle!

Janna Piper-Frailing
Realtor
Horizon Real Estate- Rancho Cucamonga
(951) 903-3134
www.jannapiper.com
... more
0 votes 4 answers Share Flag
Wed Sep 12, 2012
Craig Chastain answered:
Hello Michelle,

I am not sure what your question is? Please feel free to contact me and we can discuss your scenario further.

Thank you!


Craig Chastain
Realtor/Owner
Next Level Realty
909.243.4251
sellyourhomewithcraig@yahoo.com
... more
0 votes 10 answers Share Flag
Sat Jun 23, 2012
Michael Magaw answered:
There are 3 available four-plexes in El Segundo. Price range from $1.18M to $1.29M.

Call or email me for details.

Michael Magaw
310.259.6850
m@nhlbrokers.com
0 votes 2 answers Share Flag
Mon Jul 9, 2012
Alison Hillman answered:
Hi Melody,

Have you tried reaching out to a Trulia pro yet? I would recommend picking an agent from our list of experts in the area:

http://www.trulia.com/voices/directory/Los_Angeles---22637

Check that out and please let me know if you have additional questions!

Best,
Ali, Community Manager
... more
0 votes 1 answer Share Flag
Wed Apr 30, 2014
Dot Chance answered:
Hi, Melanie. The school may offer a list of people willing to rent to students. That would be a great place to start.

As far as renting a room vs an apartment is probably a matter of preference for your friend. Will he be comfortable living with strangers? Is he more comfortable living alone? He needs to determine his budget and compare the cost of an apartment with renting a room.

All my best,
Dot Chance
Keller Williams
DRE #01494182
... more
0 votes 6 answers Share Flag
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