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Is it better to rent a house or buy a house right now?

December 10th, 2009 by admin
rent house now
I am in my early twenties and looking to move out, while buying a home seems the way to go these days I am still hesitant seeing as I know the market is still going to fall. I am looking into rent-to own options. If anyone has had any experiences with this good/bad..any advice would help!

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3 Responses to “Is it better to rent a house or buy a house right now?”

  1. 1J B

    RENT – we got more bottom to see

    Comment on Dec 14th, 2009 at 6:16 am  
  2. 2joscasta

    Rent to own.. nearly always falls through, I had friends who tried that, and all of their deals fell through at one point or another.

    The rental market is pretty good right now, and allows you time to figure out where you want to live before you buy.

    Comment on Dec 14th, 2009 at 10:04 pm  
  3. 3Doctor Deth

    if you are just moving out, you probably have limited credit history – even with a rent-to-own, you have to be able to qualify for and get a mortgage on your own probably in 12 months. Do you make enough to even afford a house in your area (2.5 times your annual salary)?
    Do you even done a budget for yourself – going out at least 3 yrs into the future? – houses have a lot more expenses than an apartment does.

    You’ll still need a lot of cash for closing costs and fees if you somehow qualify for a mortgage.

    Have you worked at your current full time job for at least 2 yrs?

    Comment on Dec 15th, 2009 at 1:45 pm  
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