Which Is Better: Buying or Renting?
Our reply when first-time homebuyers ask us if now is a good time to buy.
Is now a good time to buy? When first-time homebuyers ask us this question, we usually respond with another question: Is now a good time to rent?
Due to rising interest rates, many people believe that it’s hard to buy a home now. However, the truth is that shopping for a home in this market is relatively easy as long as you meet some simple qualifications. Talking to a lender about getting pre-approved is also more manageable than applying for a rental home. Plus, according to the Seattle Times, rent prices are increasing, which will soon affect you if you’re renting.
Home prices are not dropping, and the market is steady all around. If you rent, your mortgage payment goes to your landlord's equity. However, if you buy now, you can start building your own wealth.
If you need help with your home buying plans or have any real estate concerns, call or email us. We’re here to help!