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Is Now Your Break Even Point between Renting and Buying?

June 17, 2011

Rent Vs Buy

I think you are going to find, as a lot of my clients have, that now may be that perfect time to buy.  Your rent may be going up and you’re tired of it.  You’re tired of the noise coming from upstairs or downstairs, you’re tired of your landlord not fixing the toilet when it’s running constantly. 

Click on the above link and look at this chart.  These dollar figures are the principal and interest only, not insurance or property taxes, nor closing costs factored into an escrow.  But look at an estimated mortgage and see how it changes as interest changes.  Think about what you could afford now vs what happens if interest rises.

Is now the time to buy for you?  Yes, purchase prices may still be going down, or they could be  holding steady where you want to move to.  Interest rates are down……they could go down and they could go up.  I wish I had a crystal ball for everytime someone asks me if they are going to go up or down and when, I just wish i knew.  I do know this – you never know what a seller will accept for his home until you place an offer on it, so let’s talk.  Let me tell you what property values are in the areas you want to be and we’ll see how long you may be able to place that offer. 

No more landlords!

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