Depending on your personal financial situation AND where you want to live – renting vs. owning may be the debate going on in your head… What “we” know and understand is that there are MANY FACTORS that play into the ultimate Best Decision for YOU – but hope that this will help offer additional considerations:
- If your credit is bad or not as good as a Lender would like for you to Purchase – You May Need to Rent
- If you are NEW to a JOB or AREA and not sure of your direction or ability to show “stability” for a lender – You May Need to Rent
- If the cost to PURCHASE is MORE than you have saved – and the monthly cost is HIGHER than you want to AFFORD – You May Need to Rent
- If you have a busy life, too many demands with work, etc and don’t want to worry about maintenance issues – You May Need to Rent
- If you are going to be short-term, typically less than 2-3 years in an area – You May Need to Rent
BUT – sometimes the cost of RENTING is HIGHER than OWNING – and then, if the above factors are not working against you – YOU WILL WANT TO BUY!
This article also offers more insight: http://realtormag.realtor.org/daily-news/2016/12/16/where-it-s-better-buy-rent
HAPPY HUNTING – WHETHER you are Buying or Renting…R H 2 L is here to help!
Slowly, the steps to making some progress are being recognized and put into implementation! The following article at least provides for the opportunity of a home owner or tenant who is in a property to be foreclosed to be able to RENT the property (month-to-month.) While not a permanent fix – it does help to provide a little extra time to make other arrangements…if you need help in finding more details – call Tammy at 937-838-0997.
Daily Real Estate News | March 6, 2009 |
Freddie Mac Launches Rental Initiative
Freddie Mac is launching a rental initiative, which will give former owners and tenants of foreclosed property the opportunity to lease their recently foreclosed properties month to month.
The REO rental initiative will be managed by HomeSteps, Freddie Mac’s national real estate unit, and implemented through several national property management firms. Freddie Mac has about 8,500 properties in various stages of foreclosure.
Freddie Mac also will continue to suspend evictions through March 31 to ensure that former owners and occupants have an opportunity to explore new options available to them.
To qualify for a lease, the tenant or former owner must occupy the property and show they have adequate income to pay the monthly rental amount established by the property management company based on market rents for the area. Occupants must agree to allow HomeSteps to show the home to potential buyers during the lease period.
Here are some helpful links to review if you are a property owner considering Section 8 as an option to rent your properties:
While this helps to bring all of the information more easily to you – the process can still be complicated for out-of-state owners. If you are interested in having someone locally to make the connections for you, talk with me about getting your property ready for the first pre-inspection and the information about your property out for potential tenants to see! If all things work well, we can have a tenant ready to go as soon as your property is ready.