Everywhere I look I see media headlines screaming…
“Now is the right time to buy real estate.” I hear that interest rates are low so NOW is the right time. There are fewer buyers in the market during the winter so NOW is the right time. There is more selection in the summer so NOW is the right time. There are usually nuggets of truth in each of these but how do you make sense of all this conflicting information?
The truth is we are all in a unique situation.
Your unique set of circumstances is what will determine the best time for you to buy, sell or rent.
Let’s discuss how to know when it may be the right time for you to rent a home.
- Take a look at your employment situation– Many employees including educators, accept a 1-year contract when they are first hired. Others are employed on a trial basis or probationary period. This can mean it’s the right time to rent. Renting offers a great deal of flexibility for those who are looking to be transferred or those who are not settled on a career path.
- Your financial situation- Your home should be a blessing not a burden. If you are financially strapped and you buy a house you won’t have the margin for emergencies. This invites stress and worry that you will not have as a tenant. Home ownership requires ongoing maintenance and occasional repairs that also do not need to be factored into a renter’s household budget.
- Your stage of life- Some of our tenants rent from us while they are building a house, building or rebuilding their credit, saving for a down payment, while they are engaged, while they are in college, and some even rent during retirement. Home ownership is a big responsibility and during life transitions renting can ease the stress of long term planning.
I would love an opportunity to walk with you though any phase of the journey. If now is the right time for you to rent I will work to find the best rental home available. We will consider your current budget as well as your housing needs.
Thanks for stopping by,
Sarah Johnson, Broker/Owner
Johnson Home and Land Inc.