Tuesday, March 31, 2015

Should You Buy Or Rent In The Current Economy?

Credit for image

When you should buy… 

The other night in bed, my hubby started talking about whether or not we should move house this year. After some discussion, we discovered that neither of us knew if it was better to rent or buy in the current economy. So, we decided to perform some research and find out which was the preferable option. We figured that most of my blog readers probably have the same issue, and so this post will relay our findings. Publishing them here today is not just a way of filling blog space. We honestly want to help you to make the right decision. There is no doubt in our minds that millions of hard-working Americans are getting a bad deal on their housing, and that means they are paying over the odds. The information on this page should help you to guarantee you make the right choices in the future. 

 When you should rent… 

 Renting a home in the current economy seems to be the best option if you are in any of the following situations.

Lots of savings. If you’re lucky enough to have lots of savings in the bank to pay for a deposit, you should look to purchase real estate as soon as possible. Money can disappear, but assets are more likely to be around for many years.

You already own a house. Presuming you already own a house, selling it and moving into rented accommodation just doesn’t make sense. Not only will you lose a precious asset, but you will also use all the profit you made from the sale when paying your bills. At the end of it all, you will have nothing left.

Strapped for cash. Those who do not have enough money to pay for a deposit on a home will obviously have to rent until they do. However, putting some money aside each week should help you to reach your goal eventually.

Bad credit history. People with an average credit history shouldn’t have too much trouble getting a mortgage from a bank or alternative lender. Those with terrible credit ratings might not be so lucky. If you can’t convince a lender to give you a mortgage, you will have no choice but to rent.

Need for specialist communities. If you work for the armed forces and spend a lot of time away on tour, it might make sense to rent a property in a military community. Those who’ve never heard of them before should click here to increase their awareness. They are designed to house the families of people who are employed by the military, and many people think they are the best places for establishing a support network.

As you can clearly see from those points, the best option for you will depend on your personal situation. Myself and the hubby have decided to stay put for another year, but I’m sure you’ll get the read all about it when we finally decide to relocate. Thanks for reading again guys, we hope that information has helped you. 

See you soon!