Military Relocation News
Buying Your Home
October 26th, 2015
Is it the Right Time to Buy?
Before we dive into the perfecft season to buy your home, the question we need to answer first: is it the right time for you? Some people may find renting easier; there's no upkeep of the home, no real stresses or issues should arise out of renting, there is more money in the bank. All of these are valid points, and ones you should consider before buying your next home, be it a house or a condominium. Let's look at the three points on a case-by-case basis.
1. There's no upkeep in the home. This is why a lot of people rent, or buy condos. If you're leery of any upkeep in your home, and are tired of renting, perhaps a condo is right for you. Renters, and condo-owners, don't want to have to deal with a leaking roof, plumbing issues or expensive electrical. But, when it comes to renting, there are other things that fall under the 'upkeep' category that you are forbidden to do; such as painting or decorating. Oftentimes you are not allowed to paint walls, re-decorate or renovate kitchens, bathrooms, bedrooms, or landscape your yard to your tastes (if you have a yard in your rental). These are mostly big-ticket items, and not having to spend money on your home is great. However, the rental is not your house, your apartment, your condo. It is your home, but you are limited to what you can do with it. Sounds pretty boring. If you love the idae of renovating, decorating, or even just painting the walls an outgoing colour, perhaps buying is right for you.
2. No real stresses should arise out of renting. There is always going to be stresses attached to living in your home, but when renting, the stresses are (usually) much lower. Your basic appliances come with the place, if there's anything majorly wrong that is not your fault (such as roof repairs, electrical or plumbing that does not have to do with clogged kitchen sinks, toilets and baths) you don't have to carry the cost. That being said, the one real stress that people feel when renting is rental increases. Rent, legally, cannot jump hundreds of dollars in a year, but rent increases. Ever year. Every contract. It's the name of the landlord game, and who can blame the owner for trying to make an extra buck?
3. There is more money in the bank. This can almost be answered in a yes or no format. If you're renting a home that adds up to being more than what your mortgage and bills would equal when buying, perhaps renting is not for you.
These questions are important to answer before even thinking about what time of year is the right time to buy, because it really doesn't matter what the time of year is. Any time is the perfect time to buy. Loads of houses pop up in the spring, giving you a whole slew of houses to choose from, but will you get the right price? Spring is where real estate heats up, buyers come out of their cozy homes and sellers want more for their humble abode. Winters sees a slow-down of homes to pick from, usually with a better deal attached to them. No matter the season and strategy to buying your home, answer this question first: is it the right time to buy for me? If the answer is yes, call us today and we can help. If it's a no, well, we have some pretty great rentals to choose from.
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