Rent vs Buy – Now vs Later

Tags

buying a home for the first time, first-time homebuyer, Jacksonville FL Real Estate, Jacksonville Real Estate, millennials, real estate, real estate investments, Real Estate Team, rent vs. buy

If affordability is a concern and you are unsure were you’d like to live in the near future, you may find this article on the hidden long-term cost of renting compelling.  It’s called “The $700,000+ mistake nearly 6 in 10 millennials may make.” You can check out the article here:

http://www.marketwatch.com/story/the-700000-mistake-nearly-6-in-10-millennials-may-make-2015-01-22

Renting in the short-term may be your best option, but waiting to buy can have a high cost. For example: “At current rates of appreciation, in 10 years the average home (now priced at $190,000) would be selling for about $249,000. If interest rates return to their historical norm (from over the past 15 years) of 5.6%, a monthly house payment (including mortgage, taxes and insurance) on a $249,000 home would be $1,574 a month, a 52% increase over the $1,037 house payment for a median priced home now.”

If you ever have any questions about home ownership, we are more than happy to help you plan for your future. Kevin and Jennifer Hanley, REALTORS TheHanleyHomeTeam.com 904-515-2479

Can I Buy Again? I Had a Short Sale A Few Years Ago.

Tags

buying after a short sale, Can I buy now after a short sale, low mortgage rates, rent vs. buy

This month we’ll be reaching out to friends and clients who were swept up in the real estate downturn to check in and see how they’re doing. Many have been in touch recently about the possibility of returning to home ownership.

You might have some of the same questions they have. For instance: Can I get a mortgage? Have home values stabilized? Is it possible to buy again for what I’m paying in rent now? How can I be sure I won’t end up in the same situation?

The truth is, many people who lost their homes as little as two years ago may already be in a good position to buy again. Home prices and fixed-rate mortgage rates are quite favorable. There are many excellent homes on the market which can easily fit in a budget accustomed to current rents. Plus, it’s cheaper to buy than to rent in our area.

If you’re thinking about returning to home ownership, we’d be happy to answer questions you might have, and even connect you with trustworthy lenders who can help you navigate pre-qualification for an affordable home.

Why continue to tolerate the hassles of renting if you can transition back to a home of your own? Perhaps it’s time to say goodbye to absentee landlords, long waits for maintenance requests, and loud neighbors.

If you’d like to stop dreaming about it and start doing something about it instead, let’s have a conversation and see what we can do together to get you back on track for your own home. Kevin and Jennifer Hanley, REALTORS 904-422-7626 http://www.HanleyHomeTeam.com or http://www.HanleyShortSales.com