Higher Interest Rates: Better to Rent? Not Necessarily


 It could still be costing you more to rent than to own considering renters don't benefit from a home's appreciation and natural amortization of a fixed-rate mortgage.

Comments

Post a Comment

Thanks for commenting, please call me if I can answer questions or help in anyway.

Popular posts from this blog

Which types of showings work

Image
  A showing is an opportunity for a buyer to determine if a home is right for them. Each of the different types of showing plays a valid and necessary role in marketing the home. Some buyers may start by looking at homes online, which can lead them to drive by the home to see if it still meets their interest before they schedule a showing. New Build Model Homes:  Take me with you to your visits and don’t register online when looking at homes. Builders/Sellers require I, your agent represent you on first and substantial visits so it’s imperative that I make first contact!  Open Houses:  Take me with you! Make sure you give agent at open house my name and number, Im a great agent to represent you in selling buying or building your home. Online showing : This is when a buyer looks at a home's listing online, including photos, videos, and a description. This can be a great way for buyers to get a general overview of a home and see if it is worth scheduling a showing. Drive-by showing :
Read more

Central Ohio Housing Report - December 2023

Image
  December saw a 5.7% decrease year over year in closed sales as the median sales price rose 7.3% in the latest Central Ohio Housing Report from Columbus REALTORS® As the central Ohio housing market embarks on a new year, we look back at the final month of 2023. In December, there were 1,917 closed sales in the Columbus & Central Ohio Regional MLS, a 5.7 percent decrease over December 2022. The median sale price grew to $295,000, a 7.3 percent increase year-over-year.   In the peak of summer sales, homes in the region were spending about 17-18 days on the market. In December, that number rose to 30 days, the highest number since March.   The total inventory of homes for sale surpassed 3,000, marking a 9.7% rise over last December. Supply sits at 1.4 months, which is a 27.3 percent increase year-over-year. New listings in December were typical for a month that is traditionally sluggish in this category.  There were 1,434 new listings entered into the MLS in December 2023, which was
Read more

Why It's a Smart Move to Buy a Home in the Current Market

Image
  If you're in a financially stable position, now might be the perfect time to embark on your homeownership journey. Buying a home today offers several advantages, including the opportunity to build equity and stabilize your housing costs in the face of rising expenses. Explore the reasons why purchasing a home now can be a wise decision in the current market. By purchasing a home today, you can start building equity, which is an investment in your future. Additionally, opting for a fixed-rate mortgage allows you to stabilize your monthly housing costs for the long term, even as other expenses continue to rise. This stability provides peace of mind in an ever-changing financial landscape. While housing costs experienced significant increases in 2021 due to a combination of factors, such as inflation, high demand, and low supply, the market has since moderated. If you decide to buy now, you can expect relatively stable house prices and potentially face less competition from other bu
Read more