Profile picture for rehana58

rentr to buy or

or buy if loan approves. my e-mail is rehana58@yahoo.com . i will be a first time buyer   my credit is in between  6.50 to   7 .50% score  will i be able to rent or buy thanks  rehana
  • April 13 2011 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (12)

Profile picture for SteadyState
Here is what happened to buyers  in Nadia Huliai's area who listened to her or REAs like her:

Prices
Y-t-Y: down 13.7%
Q-t-Q: down 7.9%
M-t-M: down 2.6%

People selling for a loss in West Chester, PA:
2007: 2.5%
2008: 6%
2009: 8%
2010: 14%

96% of homeowners are seeing decreasing home values in February 2011.
With a friendly agent like Nadia who needs enemies!

  • May 07 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

If you can get approved for a loan, then definitely buy a home. 

1. Rents go up in time, Not fixed rate mortgage payments 
2. Rent Money goes in to someone else's pocket.
3. After you leave your rental, all the money you paid for rent is wasted
4. You can always sell the property and recoup your money 
5. Mortgage Interest, PMI & Property Taxes are tax deductible so you get a nice tax deduction.
6. The longer you live in a home you own, the cheaper the payments will be. Mortgage payments stays same but most people make more money as the time goes by.

You can find a nice [hotlink removed by Zillow moderator] with actual numbers on my website so you can see all the benefits of owning vs. renting.
  • April 27 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wetdawgs
"Buy! No Matter what"    Ah oh, are you serious?   How many economists think that housing market has bottomed?   When have NAR members ever said "be cautious about buying" or "don't buy now"?

The then the truth comes out "plus you get to do landscaping, snow shoveling and loose your free week-ends working on your home!"      (I'm glad my weekends aren't loose, mine are quite tight.)
  • April 22 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Buy! No Matter what, your agent will search out a great deal during times when prices are deflated.  Interest rates are low, you get more bang for your buck, you get tax benefits beyond that of renting, plus you get to do landscaping, snow shoveling and loose your free week-ends working on your home!
  • April 22 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

The rental market seems much more inflated than the buying market, because so many people are renting.
  • April 22 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Due to the economy's ongoing weakness, real estate prices are still much lower than their pre-2008 highs and thus there are many deals to be had in the real estate industry at the moment. Based on your credit score it's hard to say what kind of mortgage or loans you might be able to get from a bank (this depends on other economic indicators such as your income, savings, etc), but if you are able to make a purchase and can afford to do so, now is not a bad time to do it.
  • April 19 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Actually, "anytime" is a good time to buy or rent.  It all depends on what exactlly the numbers are for the investment you wish to purchase, and how your personal finacials match up. 

That said, the previous comments are right.  Real estate is always generally the better investment. 

The real deciding factor is how does any one purchase fit your personal and financial goals.
  • April 19 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

In general, now is the best time to invest in real estate. Consult a realtor in your area to help in the assessment.
  • April 15 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Gus Pishue
Rehana,
I would say the time to buy is now, if you are ready for it. Housing prices are low, and the interest rates are low. Both are in great spots, especially for a buyer right now. However, if you are not ready for the commitment of buying a house, then don't. I would hate to see someone buy a house when they are not ready for it. When I work with someone I want them to be sure they are ready for it. Good luck in your endeavors
  • April 15 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for karentrayrealtor
Hi Rehana: 

The best place to put your money is still in real estate.  If you do qualify for a mortgage and have 20% down, you will be able to get an excellent low interest rate.  Renting is like trying to heat a home without windows.  It is definitely throwing away money.  So many advantages of owning a home,  Choose a local Accredited Buyers Agent/Realtor and local mortgage/bank, they should work for you with your best interests at heart.  The inventory is great, interest rates are low, if you need any help, please feel free to contact me at klt18201@gmail.com.  Good Luck.

Karen

 
  • April 15 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

At this time in the market and the all time low interest rate it may be just as much to purchase a house as it would be renting. If your credit score is 750 or higher you will qualify for the lowest interest rate for a conventional 30 yr. mortgage with a 20% down payment. In what area are you looking?

  • April 13 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Thanks for your question Rehana.  What part of the country are you in?  I would consult with a local Realtor, bank or mortgage lender.  The latest trends tells us it is cheaper to buy vs. renting.  If you need assistance in finding a good Realtor, I can help.

Good luck, hope this helps.

Oh, and check this out from HGTV, http://www.frontdoor.com/tools/calculators/rent-vs-buy.aspx
  • April 13 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.