Buying Homes for Sale in College Station, TX Is Better than Renting
Recent statistics show that the housing market is low on inventory due to various factors, including the long list of homes with low equity, low mortgage rates, and properties that are owned by investors. Redfin Research Center claims that homes like those, including other types of homes that are not for sale anytime soon, comprise more than half of all existing homes. Simply put, the market does not have much in store for home buyers.
This could mean renting may be a better bet for a residence at least at this time. However, when deciding between renting and buying any of the available homes for sale in College Station, TX, one has to weigh their options considering many other factors. For instance, renting is not the ideal option if you’re looking to save more since you’ll end up losing what you currently have to pay off monthly rent while not securing ownership.
In an article for NYTimes.com, writer Neil Irwin attempts to help homebuyers make up their mind by showing the benefits of home buying that might fit their current needs. He identified some important questions one has to ask themselves when deciding between buying and renting a home.
One of the non-financial benefits of buying a home is that you know you can live in it indefinitely. You don’t have to worry that the landlord will raise your rent 20 percent, or demolish the building to turn it into something else. You can renovate the kitchen or paint the shutters according to your preference and yours alone.
One of the biggest factors shaping the desirability of buying versus renting is how long you will stay in a place. Given the huge costs, both financial and psychic, of selling a house, it is generally a far better deal to buy if you will live in a place for a decade than if you will be moving in three years.
Smart homebuyers are looking for efficiency in each option, and those who are sure they’re not moving to another city within the foreseeable future see buying as more beneficial than renting. This is especially true when the house you’re buying is located in a city as inviting as College Station.
So if you’re looking to invest in a home, don’t think twice if you have all the factors mentioned above. Investing in one of the many exquisite houses for sale in College Station is more lucrative than ever before, especially if you are assisted by a certified realty company like Traditions Realty Team.
(Source: Five Questions You Need to Ask Yourself before Buying a Home, NYTimes.com)