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Recent Grad, Great Job, Great Credit....Rent or Buy?

I am a recent grad who was lucky enough to score an awesome job soon after graduation. I have excelled credit but I am just really tired of paying $800 a month as a renter. Although it is a great time to purchase a home with the current market, I am reluctant because I am not quite sure if purchasing a home is the right move for me right now. I thought about renting to own but I heard you end up paying more in the end. Any advice/suggestions? 
  • August 10 2012 - Northwest Raleigh
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Answers (3)

Profile picture for Dunes ..
Still hoping you get some additional feedback to help you form your own opinion...Bump
  • August 11 2012
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Profile picture for Dunes ..
I'm gonna bump this and hopefully you'll get some feedback from others
  • August 10 2012
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Profile picture for Dunes ..
"I am not quite sure if purchasing a home is the right move for me right now."

Then it's not the right move for you right now..simple as that

You go to the point you're at in your life because you became informed....from school to the job interview you learned the process, what worked, what to watch for,  ect.
Buying at any age, stage of life is a Huge Financial Decision, obligation and comes with many things that can impact your life in a positive or negative way..you do not want negative especially at your stage of life

GET INFORMED!
The First thing you do IS NOT run out and just use any ol Lender/Agent....

Why? Because this is a very Large Business Transaction and the Selection of an Lender/Agent is an Important one for a lot of different reasons..
Select wisely and take the time to be sure you find the Best Lender/Agent for you...
Become informed..be smart with your money...if there is a good Deal be able to recognize it, if there is a Bad Deal be able to recognize it

I would suggest you give this Fed. Gov. Site a look, it has all the Current Fed Housing Loans (FHA/Vet/USDA ect.) and you search for specific information, compare options, or take a short questionnaire to determine your eligibility for each program.....Fed Loans..Housing

I would suggest you read the 9 Steps to Homebuying on the Hud site as they are an excellent guide & Resource plus links to your Local Homebuyer Programs....
(Step 3 is interview lenders..Step 5 is interview RE Agents)..
Buying a Home

Check out all this information from the Dept. of Justice Web Site...
Competing Models of Real Estate Brokerage

Consumers Can Save Thousands of Dollars in Commissions

Competition and Real Estate... Real Estate Laws in Your State

You could also make use of the Fed Gov and Banks Sites they have created to allow the Public to view their Properties for Sale/Foreclosure/REO..Get a feel for Prices and different Options

Sites like...HUD Homes...Fannie Mae
You can find the links to all the Gov sites here...Link

Bank sites like....Bank of America...Wells Fargo
You can find links to Bank sites here...Link

For finding Public Records, Property Records, Tax Sales posted ect. you may find this Public Records Search Engine helpful...Check it out
Free Public Records Search Directory

When you are sure purchasing is the right move..move
You have options..become familiar with them..Protect yourself
Shop Smart & Good Luck
  • August 10 2012
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