rent or buy a home ?

both have their advantages ..

rent if you …

  • you are going to be there for a limited time
  • not sure if you like the neighborhood
  • you have the flexibility to move out when you want to
  • no need to pay for property taxes , maintenance and repairs
  • a small monthly payment and you are free …

buy if

  • you plan to stay there for a long time
  • like the neighborhood
  • you will be responsible for property taxes , maintenance and repairs
  • you will need to pay a down payment and a monthly mortgage / payment
  • you want to build home equity

and in this market .. we recommend you wait before buying .. reason .. the slowing economy , the recessions around ..

it is a buyer’s market ( an obvious indication of the recession – the billboards , outdoor advertising – a lot of of them are idle / showing the owner’s name )

we have noticed that due to work from home culture .. a lot of people don’t need to rent separate apartments anymore .. they are moving back with their parents save on the costs of the separate apartments ..

due to this , the rental home demand is also coming down…and so are the rents

we have been tracking selling prices for some homes and they are down almost 30 % from their highs just 9 months ago …

it is a buyer’s market .. the property rates will be going down and so will the home loan / mortgage rates …

so , if you are patient enough , you must just land yourself a good deal on a home at almost 40 – 50 % of the borrowing rates … a really sweet deal…

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