Grab HWA RSS FeedIn the State of the Union address, the state or our country's current real estate situation was addressed. In today's real estate market it's not surprising if people are a bit gun shy about buying a home. Some questions that potential homeowners are considering:
- What if I can't afford my mortgage in the future?
- What if my home loses so much value that I eventually owe more than it's worth?
- What if I have to move in a few years and can't sell my home?
If you've ever asked yourself these questions about home ownership, it could be time for you to look into renting versus buying a home. Believe it or not, sometimes it makes more sense to rent an apartment in Roanoke, VA rather than own. Here are 3 tips to help you figure out which option—renting or buying—makes the most sense for you.
- Evaluate whether you have a steady income to support paying a mortgage.
- Make a timeline of how long you plan to stay put. If you anticipate staying in a home for only one or two years, it is unlikely that you will see a significant financial return on your investment.
- Crunch the numbers before making your decision. When buying a home, you have to take into consideration your mortgage payments as well as real estate taxes, insurance payments, and the maintenance costs. With renting an apartment, calculating month-to-month housing expenses is as easy as inquiring about the monthly rent and average utilities.
Bottom line: buying doesn't always make sense. For information on our apartment community in Roanoke, contact Honeywood Apartments.
Original article - Home Goes Strong
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