California Apartments and Homes Blog

Is it Better to Rent or Buy?

Always take your time to consider each of your options for purchasing a new home. On the other hand, people who are planning and capable of buying properties can tell that the interest rates are at their lowest ever. What does this mean to you? It simply means that precisely anyone looking can get an affordable home loan.

How ready are you to buy?

A very common question we hear most of the time in this scenario would be “is this the right time to buy?” Well, make sure that you consider all your options before making a decision. At this point, you should think of the rent vs. buy circumstances. Think of the whys. Think of your very own reasons of why now is the perfect time for you to invest.

Consider this:

• At this time, the interest rates are very low. These are the lowest they have ever been and it is unlikely they will not go down any further.
• At this time, lenders are searching for qualified, serious buyers. This simply means that they are willing to give you flexible payment terms should they know you are looking for affordable loans.
• Mortgage Lenders are very much willing to offer the best deals, top quality loans with a diversity of features and terms, to those who have good credit standing. People who think they have quite bad credit should not worry though, because there are lenders willing to offer bad credit loans as well.
• Areas like Colorado Springs and Denver can be considered buyer’s market. There are quite a lot of available properties on the market and surprisingly, they are very affordable even when they are in well established vicinities.
• You can find either FHA loans or VA loans available, which will definitely make your home buying more affordable and easy on the pocket.

Decision Time

When it comes to the decision making part of renting vs. home buying steps, most people start to get confused. Mortgage tools can help answer questions and help identify options available for you. Yes, there even is a rent vs. buy tool available. This is like a compare and contrast tool. It lists down the amounts that can be spent when you lease a property compared to the costs of paying monthly for buying a home. There are a lot of people who find it very easy to use these tools, and this is a good eye opener to those who think they cannot afford to buy their own property yet.

Always, always make sure that you check out all your options before making a decision. Take a look around and you will see that there are indeed quite a lot of cost effective options that will really help you out.