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Home Renting vs. Buying California

In most instances, as real estate agents will tell you, buying a home is better than renting. However, there are some situations where renting makes more sense.

Local Companies

Keith Woolgar - San Diego's Century-21
(619) 306-3369
1133 Avocado Ave.
San Diego, CA

AVALON BAY
(949) 250-5483
4440 Von Karman, Suite 300
Newport Beach, CA

Intracorp
(949) 955-2370
4041 McArthur Blvd., Ste. 401
Glendale, CA

LM Realty & Investment Company
(818) 957-0760
2550 Honolulu Avenue, Ste. 108
Glendale, CA

RE/MAX of Glendale
(818) 547-6367
2256 Montrose Ave. #3
Glendale, CA

Crown Point & Cascades Condominium Rentals
(559) 434-9116
9375 N. Saybrook Dr
Fresno, CA

Jackson Park Place I
(559) 299-1111
1830 E. Fir Ave
Fresno, CA

Rental Guide of Fresno
(559) 434-9520
940 E Windsor Circle
Fresno, CA

Whispering Woods - Manager
(559) 225-2533
5231 N Fresno St
Fresno, CA

The Springs
(559) 439-1076
7511 N. First
Fresno, CA

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Most real estate agents will tell you, without hesitating, that it is always better to buy than rent. In many instances, in fact, most instances, this is probably good advice. Here are some situations where renting makes more sense than buying.

Interest rates. If you do not have much money to be put towards a down payment, if your credit report is hindering your ability to secure a loan at a decent interest rate, or if your mortgage broker cannot get you an attractive overall package, it may be a good idea to wait until this changes. Typically speaking, the more money you put down at closing the lower the interest rate. If you think that, in the next year you may be able to muster up more cash, wait. If you think that your credit report has blemishes and you can clear them up in a year's time-wait.
Job uncertainty. If you are a professional working with a company that can, or does, transfer you to different cities in short periods of time, then it may not make sense to buy. Renting allows you the flexibility of moving at the drop of a hat. If you are a professional on the move, make sure any lease you sign is a "tenancy at will", meaning, you can leave on 60 days (or a different agreed upon time) notice. Breaking a lease can be expensive, so keep this in mind.
Traveling. If you are constantly traveling with your job; particularly overseas, you may want to consider renting until you find the place you want to settle in. Owning a home requires that you are around (or someone reliable is around) to maintain your property. Being an absentee landlord or owner can be stressful since you are never able to take proper and full care of your purchase.

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Author: Grace Bloodwell

Featured Local Company

Keith Woolgar - San Diego's Century-21

(619) 306-3369
1133 Avocado Ave.
San Diego, CA

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Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History