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YOUR HOME   -   REAL ESTATE
Do You Lose when You Rent?
July, 2012 - Issue #93
David Rendall & As sociates of RE/MAX Santa Clarita
David Rendall & As sociates of RE/MAX Santa Clarita
There was a time when engaging in the "rent versus buy" debate was as unpopular as a 20-percent down payment requirement. But then the housing "bubble" popped and people began questioning not only the soundness of the "buy is best" advice, but the American destiny of homeownership, as well. After all, when you hear about homes "underwater," it isn't hard to imagine your dreams drowning, too. A large number of individuals and families that could qualify for a home purchase chose, instead, to wait on the shore (most often in a rental house without a beach view!).

So why are so many new - and seasoned - buyers wading back into the home-purchasing waters now? Many are tired of seeing their money "thrown away" via a rent payment. "It gets harder every month to write that check," shares a friend of mine. "I keep thinking, 'If I had bought a house instead, I would have paid almost $26,000 towards my mortgage this year alone.'" Says another, "I was nervous about committing to a home when my job was unstable. But the economy is growing, I'm feeling more secure at work and I don't think I'll see interest rates this low again in my lifetime." She's buying now - and she's not alone.

"We're seeing an incredible number of people moving back into the buying market," says broker-associate and Realtor David Rendall. "There was definitely pent-up demand and the combination of super-low interest rates coupled with highly-affordable homes has pushed a lot of folks off the 'fence,'" he explains. His business, David Rendall & Associates of RE/MAX of Santa Clarita, has noted a consistent trend: "Buyers are excited to see just how far their dollar can go right now. We've been honored to help a lot of people make their home-buying dreams come true."

So, is buying always best? Not necessarily. "I advise individuals with low credit scores to rent for a year or two to build credit and save money in order to eventually have a bigger down payment at the ready. If you're uncertain as to whether or not you'll be putting down roots in a community longer-term - say, you may be there less than a year - renting may be a smarter move. Otherwise, the question is not, 'Can I afford to buy?' The question becomes, 'Can I afford not to?'"



David Rendall & As sociates of RE/MAX Santa Clarita have provided their clients with exceptional service and value for over a decade. Call or visit their office at 27720 Dickason Drive in Santa Clarita. Call their office for a free consultation or go to www.renterstool.com for acces s to the free "Rent versus Buy" calculator. The site also gives you acces s to all available rentals and properties for sale in our marketplace. 702-4550 702-4500
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