Is it a Better Time to Buy or Rent?
August 22, 2011
In almost 75 percent of the 50 largest American cities, purchasing a home was cheaper than renting in July, according to real estate website Trulia. In Oklahoma City's real estate market, it's an ideal time to invest in a new home versus paying that four-letter word called "rent." So if you're contemplating jumping into world of new home ownership, how do you know if you're ready to part ways with your landlord? You know it's time to give up your apartment and invest in a new home if... 1. You avoid going home to your 600 square foot cubicle until late at night. Your goal - spend as little time there as possible. 2. You've had seven different neighbors move in the apartment below you in the last year. Each one is louder, wilder and meaner than the previous tenant. 3. Your rent has risen several times over 18 months. 4. You're tired of spending all day Saturday in the complex laundry room. 5. You're still waiting on maintenance to fix your broken dishwasher. 6. You're tired of circling the parking lot seven times at night looking for a place to park your hail-damaged car that has no garage to call its own. Many renters believe they can't qualify to purchase a new home. But guess what? If you're renting, you're already making a mortgage payment. You're just making it for Mr. or Mrs. Landlord. Today's real estate market is often described as a "buyer's market," and you couldn't ask for sweeter interest rates. With rates this low, you won't get more for your money for quite some time. Quit renting and start owning. Ideal Homes is a great place to start.