Buying vs. Renting? What should I do now?

Many people come to me now with the question, should I buy now or rent for a while? That's a great question and there are many things to consider, regardless of where the real estate market is going.

What is your personal situation, where are you going to be in 2 years, 5 years, or more? Are you looking for a house to live in for the rest of your life or are you planning to move again in the next few years? Are you financially ready to put a 10-20% down payment when you buy a home or do you need 100% financing? So many things to consider so let's look at them one at a time.

Let's look at how long you plan on living in this house, this is very important factor right now. Over the last few years we have seen real estate prices increase at a record pace, this is not normal and now some areas are feeling the pain of having the market decline in price. The prices have come down some in many areas and there are some good opportunities to buy property out there, remember you never buy exactly at the bottom and sell at the top, getting close is what is important. Read more here

Peter DeJoseph
Lic. Real Estate Broker
Lic. Mortgage Broker
http://www.yourreguy.com/