It is important to talk with a professional in the area in which you intend to live to help determine if is better for YOU to rent or to own. Aside from the financial aspects of home ownership, there many other reasons to consider. If you plan to be in an area for a length of time, it helps build a sense of community. There is pride in ownership that can translate into a pride in one's community. For some, this can not be financially measured.
I am in Oregon, and I would have to disagree with Jet. It is all part of negotiation. If a buyer does a repair to a home under contract and fails to close, the buyer will take a loss. The negotiated party is responsible for scheduling the contracted repairs. A real estate broker in Oregon should not arrange contractors as this falls under contractor licensing laws. Brokers should see that the responsible party is in fact the party under contract with anybody doing repairs.
You should definitely have a conversation with your broker. It sounds as if she has put a lot of time and effort into your business relationship already. As an independant contractor, your broker does not get paid until she closes a purchase transaction with you. You may need to communicate your expectations more thoroughly, and she may need to do the same. In order to make a living as a real estate broker, she needs to work with multiple clients during the same time period. Also, there is a lot more to the process than the time she spends with you looking at homes and writing offers.
If you are planning to stay in an area for a long period of time, it makes a lot of sense to buy. I've had people calling me in this area that are unable to find a suitable place to rent. Others have called because the place they are currently renting is being sold, so they have to move. In this area, rental homes tend to be small, so people with larger families are having a harder time finding a suitable place to live. It is really frustrating to have to move frequently if there is not a good reason for it like a job relocation. Also, neighborhoods with greater home ownership tend to have a lower rate of crime and stay much nicer aesthetically. With interest rates at such a low point and prices coming back in line, this is a fabulous time to buy a home! Amy Price, Principal BrokerLicensed Real Estate Broker in OregonColdwell Banker Valley Brokers
Hi Karen,I agree with David. Real estate is very LOCAL. You should contact a couple of real estate brokers in your area that have experience in or as close to your neighborhood as possible. Ask them to do a market analysis for your home. When you look at the comparables they provide for you of homes that have sold RECENTLY in your area, make sure they are homes that truly compare with yours. This will give you a much more accurate picture of your market and a price at which interested buyers may offer for your home. I hope you find an agent that is able to help you reach your goals.Amy Price, Principal Real Estate Broker Coldwell Banker Valley Brokers