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Home Renting vs. Buying Indiana

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

F. C. Tucker, The Glascock Team
317-716-7008
9277 N. Meridian Street
Indianapolis, IN
Team Advantage GMAC Real Estate
812-372-GMAC(4622)
1120 Washington Street
Columbus, IN
COATNEY REAL ESTATE and AUCTIONS
812-881-9950
648 MEYER ST
VINCENNES, IN
Flat Fee Paradigm
877-FLAT-LIST (877-352-8547)
30956 Refuge Drive
Osceola, IN
The Meiners Team FC Tucker
317 508-6532
1119 Keystone Way
Carmel, IN
Living In Kokomo
765-864-5328
405 Southway Blvd East
Kokomo, IN
RE/MAX Excel
317.605.4174
7341 E US 36
Avon, IN
Century 21 Scheetz
317-716-3087
4929 East 96th Street
Indianapolis, IN
RE/MAX Results
260-417-0143
7806 A W. Jefferson Boulevard
Fort Wayne, IN
JD's Handyman Service
812-446-3745
Brazil, IN
Brazil, IN

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.

  1. 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.

  2. 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.

  3. 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.

    ...

Click here to read the rest of the article at HowToDoThings.com

Author: Grace Bloodwell

Featured Local Company

F. C. Tucker, The Glascock Team

317-716-7008
9277 N. Meridian Street
Indianapolis, IN
Read more about Home Renting vs. Buying

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