Zillow Advice: Rent vs Buy - Rent v. Buy for military near Omaha, NE? Help again please. http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ Zillow Advice | Zillow Real Estate When moving out of the Bellevue/Omaha ... http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ When moving out of the Bellevue/Omaha area near Offutt AFB, I have seen people find renters within a day! &nbsp;In fact, I helped someone rent out their home before they were even advertising it, simply from word of mouth and the fact that rental properties are highly sought-after near Offutt AFB! &nbsp;Selling a home in this area is fast-moving, as well. &nbsp;Considering your post is a little old, I hope you are enjoying your time at Offutt and please let me know if I may help you in any way down the road! &nbsp;I'm in the Bellevue area, as well. &nbsp;: ) Take care! Thu, 28 Aug 2014 03:49:00 GMT http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ 2014-08-28T03:49:00Z In is unlikely you will break ... http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ In is unlikely you will break even in 4 years. A home you buy for $110K must sell for at least $121K assuming that your mortgage interest, tax, insurance ($1000/Month) + maintenance ($100/month) is below your rental costs $1200/month. Thus for you, given your data, cost of renting is roughly equal to cost of owning. If you only put $5K instead of $22K you will pay for PMI - if this is true your buying is way more expensive then renting. If the $1000 includes PMI then the numbers work as follow:<br/><br/>If the home does not go down in value in 4 years&nbsp; and you decide to sell you loose $11K.<br/><br/>If the home goes down in value by 10% in 4 years you loose roughly $21K.<br/><br/>If the home increases in value by 10% in 4 years you break even.<br/><br/>After you move renting is not profitable for you as your total monthly costs ($1100) is so close to your renting costs ($1200). Property management costs and a single month of the home without a renter puts you in the red. <br/><br/>A lot of risk for very little reward but what do I know - I am not a Realtor (R) Tue, 10 Jul 2012 21:41:00 GMT http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ 2012-07-10T21:41:00Z I would rent. No one knows ... http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ I would rent. No one knows what the market will do in four years. Tue, 10 Jul 2012 20:24:00 GMT http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ 2012-07-10T20:24:00Z Roberto,Do you think 4 years ... http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ Roberto,<br/><br/>Do you think 4 years is still short even with a 15 year mortgage? Wed, 04 Apr 2012 12:23:00 GMT http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ 2012-04-04T12:23:00Z 4 years is a short time historically ... http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ 4 years is a short time historically to consider owning a home. Most real estate agents can barely spell math, let alone do any math, so they will really mess up advice on this question.<br/><br/>The cost and difficulty to selling a home is much more than leaving a rental. Commissions, title charges, escrow fees, and all the repairs the next buyer asks for, plus paint and refurbishment before you even list it can add up. You can just assume it will be $10,000 or more, so unless your home went up that much, you could wind up losing some money to sell the home.<br/><br/>Land-lording&nbsp;from out of state is such a bad idea, I don't want to even bother debunking it...&nbsp;<br/><br/>"tax deduction" ok, this is where agent get to prove how bad they are at math! If you have a loan with 4.5% interest on $110,000 you are looking at less than $5000 in interest a year. This is so far under your standard deduction for a married couple that you are unlikely to wind up itemizing. So guess what? you would get precisely zero tax deduction...&nbsp; Wed, 04 Apr 2012 03:15:00 GMT http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ 2012-04-04T03:15:00Z 4 years is a short time historically ... http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ 4 years is a short time historically to consider owning a home. Most real estate agents can barely spell math, let alone do any math, so they will really mess up advice on this question.<br/><br/>The cost and difficulty to selling a home is much more than leaving a rental. Commissions, title charges, escrow fees, and all the repairs the next buyer asks for, plus paint and refurbishment before you even list it can add up. You can just assume it will be $10,000 or more, so unless your home went up that much, you could wind up losing some money to sell the home.<br/><br/>Land-lording&nbsp;from out of state is such a bad idea, I don't want to even bother debunking it...&nbsp;<br/><br/>"tax deduction" ok, this is where agent get to prove how bad they are at math! If you have a loan with 4.5% interest on $110,000 you are looking at less than $5000 in interest a year. This is so far under your standard deduction for a married couple that you are unlikely to wind up itemizing. So guess what? you would get precisely zero tax deduction...&nbsp; Wed, 04 Apr 2012 03:15:00 GMT http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ 2012-04-04T03:15:00Z I think you should buy. &nbsp;Why ... http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ I think you should buy. &nbsp;Why pay rent when you can buy a home for the same money. &nbsp;Even if the home does not increase in value in four years, you still have the tax advantage. &nbsp;Also, the Omaha rental market is very good. &nbsp;There are good renters out there. &nbsp;Are you a first time home buyer? &nbsp;If so, there is grant money that you may use as downpayment assistance. &nbsp;Contact me for more information on this. &nbsp;I would love to help you find your new home here in Nebraska.<br/>Jan Nicola, <em>[phone number deleted by Zillow moderator. Please see our Good Neighbor Policy]</em> Wed, 04 Apr 2012 03:02:00 GMT http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ 2012-04-04T03:02:00Z Well I it were me I would ... http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ Well I it were me I would wait until after the elections. &nbsp;Presently the real unemployment number nationaly is about 19 to 20%<br/><br/>If Obama gets back in which I pray he does not, it will then get much worse and you may not rent or sell it at all when that time comes.<br/><br/>Should Obama not get in then I believe our economy will be much stronger in 3 to 4 years and I would buy. &nbsp;Being a home owner with your write off is far better than renting at that point.<br/><br/>I have been in banking 35 years and a broker since 1974 and that's the way I read the market. &nbsp;So far I have been on target. &nbsp;Ask youself are you or better yet ask yourself does 46 million umemployed people under this admisistraton make you feel warm and fuzzy. &nbsp;If not, wait until after the elections. &nbsp;Speakin from experience.<br/><br/><br/><br/><br/> Tue, 03 Apr 2012 12:41:00 GMT http://www.zillow.com/advice-thread/Rent-v-Buy-for-military-near-Omaha-NE-Help-again-please/437654/ 2012-04-03T12:41:00Z