Should I buy or rent a home

Should I buy or Rent a home Today alone I was this question 3 times “should I buy or rent”…Most real estate professional will tell definitely this is the time to buy…Prices are low and interest rate are at a historical low. Before you what is your objective are you planning to reside in the home for the full duration of the loan, do you plan to relocate in the next few years, how much are you paying for rent? If you break down these pointers into categories it can help streamline your objective. “Planning to reside in the home for the full duration of the loan” If that is case, than is definitely time o buy. As I mentioned above. Prices are low, you can find a great deal on a foreclosure if you don’t mind waiting you can get a great deal on a short sale as well. Normally with the foreclosure and short sale the home will be sold at less than market value which may give you instant equity…With some remolding or even cosmetic work the value can increase..Considering interest rates are historically low with a good credit score should tie a good rate. For instance in tampa the median home price is 175,000 at a 4.5% interesrate your PI is rougly 1100 if that is a feasible monthly payment for you and you are paying that amount on a rental property, you may want to consider purchasing a home. Do you plan to relocate in the next few years If you plan to relocate in the next few years I would not advise to purchase now. I think it will be a few years before we see the market stabilize…There is a pretty big inventory of homes, so if you purchase now and plan on relocating in maybe 2 years you will be competing against short sales and other foreclosures… Ainsley Daux Home Run Real Estate inc (813)546-1954