Should You Buy or Rent a Home Now?
ORLANDO, FL – June 7, 2018 – It’s one of the most common questions in real estate. Should you buy a home and commit to the investment in a real estate asset or continue to rent? Is now the best time to buy a home or should you wait until prices go down?
Are you tired of paying rent, knowing that your monthly payments could be going to a home you own? Read more to find out what makes the most sense for you.
According to a recent article in the Orlando Business Journal, the median price for a one-bedroom rental property has risen to $1,198 a month nationally, and Orlando rental prices are increasing even faster. Orlando’s median rental price for a one-bedroom property is $1,270 a month. That’s a 4.1 percent increase from the previous month.
As with any large purchase, there are pros and cons to both renting and owning real estate.
The idea of just calling your landlord to fix any problem might sound great – the ease of not dealing with the headaches from calling multiple vendors, scheduling lawn maintenance, getting rid of any pest problems, repairing a broken dishwasher, replacing an air conditioning unit, etc. The only cost you have as a tenant is rent and a few utilities to pay. As a homeowner, you have a much larger responsibility.
On the flipside, as a homeowner, there are major benefits including stability with a predictable monthly payment with a fixed mortgage, potential tax deductions, wealth and equity accumulation.
Purchasing a home is one of the largest decisions and transactions that you will make in your life. Make sure you choose the right decision and speak with a professional first. A professional real estate agent can advise you by predicting your costs for owning versus renting and help guide you in making a smart decision.
Call Karen Thigpen to help guide you today: 352.361.5920 or email Karen@stockworth.com.
About Stockworth Realty Group
Stockworth Realty Group is a professional real estate company serving the Orlando area. Stockworth has a successful track record in Central Florida and averages more than four closings per week with a dedicated, select group of experts.
Stockworth has the privilege of serving as the official relocation company for Lake Nona’s Medical City, the United States Tennis Association and many other major employers in Central Florida. Nobody knows the Orlando real estate market better than our team who has been entrusted for years to relocate some of Central Florida’s most exciting new companies.
With experience in the fast-growing and dynamic marketplace of Central Florida, Stockworth Realty has a very experienced and sophisticated team to assist you in finding creative ways to get you the highest price and the quickest sale. To learn more about Stockworth, visit www.stockworth.com for more information.
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