Should You Rent Or Should You Buy

Dated: 05/23/2018

Views: 300

Zillow recently released their annual Buy-Rent Breakeven Horizon Study.   Basically, the study calculates how much time it takes for buying a home to make more financial sense than renting.

Are you curious what the results are for Lake Havasu City?  

After just 2 years and 1 month (yep, only 25 months) of renting, the accumulated costs of renting  a house exceed those of buying that same house,

according to Zillow's Breakeven Horizon Study results published by Zillow on May 18, 2018.

Wow, this study is an eye opener, even for me, and the study even takes into consideration the cost to maintain an owned home.  Should I rent or should I buy?  After reading the full details of Zillow's research, my answer is definitely BUY!

So, what now?  You may be wondering if you even qualify for a mortgage, and you're probably wondering how much you would need to save for a down payment.  Those are common questions, and there's only one way to find out. Whatever you do, don't just assume that you won't approve for a mortgage or that you can't afford a house.  Step one is to find a Realtor who you're comfortable working with, someone who is knowledgeable and can explain the process of buying a home.  A good Realtor will help match you with a loan expert who you're also comfortable with.   Taking the time to get a mortgage preapproval letter before you start "shopping" is an important step.  To get preapproved you'll have to provide your lender with some basic information like your social security number, bank information, income/salary/employment information, as well as outstanding debt obligations.  If you don't qualify, your loan professional should guide you in the right direction so that you may qualify in the future.  Assuming you do qualify, your lender will help you find a home loan that works for you.  Now that you know your buying power, your trusted Realtor will be invaluable.  Your real estate agent will save you a lot of time and frustration, and will be dedicated to working in the best interest of you, the buyer.  What's great for you as a buyer, is working with a Realtor is FREE, as it is the seller who pays the commission. 

Are the results Zillow's research an eye-opener for you?  Have you thought about buying a home?  Would you like a Realtor is who hard working, trustworthy, knowledgeable and nice to help you with the buying process?  If the answer is yes, give me a call!

Lisa McGregor, Realtor

The A Team

Coldwell Banker Residential Brokerage

Cell: (928) 486-3497

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Click on the links below to see current listings of homes in Lake Havasu City:

LUXURY HOMES ($500,000 and above) in Lake Havasu City:
Luxury Homes

Lake Havasu City HOMES UNDER $500,000:

Homes $250K to $500K

Lake Havasu City HOMES UNDER $250,000:
Homes $150K to $250K

Lake Havasu City HOMES UNDER $150,000:
Homes under $150K

4 BEDROOM Homes in Lake Havasu City:
Four Bedroom Homes

POOL HOMES in Lake Havasu City:
Pool Homes

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Lisa McGregor

Lisa joined The A Team in January 2018. She has been a resident of Lake Havasu City since 1976 (seriously!), loves everything Lake Havasu City has to offer, and is so glad her 3 kids are growing up i....

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