It is a great time to buy Central Ohio real estate, as mortgage rates are still hovering at historic lows, inventories are high, and home values are generally less. The buying climate begs the question “should I rent or should I buy?” There are benefits to each side. Renting makes sense for anyone who may be moving in the near future, and it also requires much less of a monetary investment. On the other hand, buying a Central Ohio property means building equity with monthly payments, in addition to the added responsibility that comes along with home ownership.
It is important to remember that the monthly costs involved with buying Central Ohio real estate include the mortgage payment, property taxes, insurance, and any HOA dues that may exist. If these numbers add up to an amount you can afford, it could make sense for you to purchase a an Central Ohio home instead of rent.
If buying Central Ohio real estate fits your budget, you have a stable job, and you plan on remaining in the area for a while then it is a good idea to think about finding a Realtor. A qualified Central Ohio Realtor can help locate the ideal property, keeping in mind your individual requirements.
Buying a home can make more sense than renting because of the ability to gain equity in a home. If you keep a Central Ohio property long enough, or get in at the right time, buying a home can be a worthy investment.
If you are looking to buy or sell a property in New Albany, Gahanna, Blacklick, Westerville, or another Central Ohio community, please contact The Raines Group. We offer professional real estate advice and are happy to help you achieve your real estate goals. Please contact us today via our online contact form or by calling The Raines Group at 614-418-7417.