Profile picture for user2062148

my agent asked me if the house i'm trying to buy is for me to stay or rent it out. is there a differ

difference?
  • October 29 2012 - US
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Answers (6)

Profile picture for Ofe Polack
I suggest that you try to work on your line of communication with your buyer agent.  When the agent asked you the question you should have asked what was the reason for the question.  You have been given various comments, all valid.  There are some associations where you can only rent for a limited amount of time, if you were planning on renting, you should know that.  Above all, when the agent tells you something that does not make sense to you, ask and then ask again, until the agent gives you a reason that satisfies you.  
  • October 30 2012
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Profile picture for JamesKuang
Your agent probably just wants to show you different types of homes based on your desired use of the home.
  • October 30 2012
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In addition to the points mentioned below, if you buy a home in a development where there is a homeowners association, you should be aware that some have restrictions on the number of homes that are allowed to be rentals.

Also, if you are planning to buy a home as a rental, your lender may require a larger down payment than if it is to be owner-occupied.
  • October 30 2012
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Well, it makes a difference on your financing. If you owner occupy your rates and closing costs will be much cheaper then if you do not owner occupy. Also, some foreclosure properties have a time frame where they only look at owner occupant offers, and then they open it up to investors (non-owner-occupant buyers). 

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  • October 30 2012
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Thanks for posting your question on Zillow.com!

Well, there could be a difference.  I would look for something a little nice than a "rental" when I purchase homes.
  • October 30 2012
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Profile picture for user6355695
There isn't a difference to you but people look for different qualities when buying a home to live in than when buying a home to rent out to others (people are a lot pickier when it is going to be their home!). 

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  • October 29 2012
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