All Topics > Real Estate Resources > Home Renting vs. Buying >

Home Renting vs. Buying Minnesota

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

ApartmentSearch by CORT - Bloomington
(952) 881-9298
8925 Lyndale Ave. S.
Bloomington, MN

Critical Eye Property Inspections
507.213.7468
PO Box 85
Owatonna`, MN

Insurance Specialists Team
763-390-4872
586 Dodge Avenue Ste. A
Elk River, MN

The Homebuyers, Inc.
612-616-9714
8053 East Bloomington Freeway
Bloomington, MN

Bloomington Realty
(952) 346-0130
1620 West 98th St., Ste. 100
Bloomington, MN

Hild Appraisal Company
(952) 887-5029
2809 West 101st St.
Bloomington, MN

Duluth Real Estate - Superior, Wisconsin Real Estate
218-390-8145
5116 Miller Trunk Hwy
Duluth, MN

CommonBond Housing
651-291-1750
328 Kellog Blvd W
St. Paul, MN

The Appraisal Team
701-205-4887
119 Greystone Plaze Suite 111
Detroit Lakes, MN

Logan Park Neighborhood Association
(612) 781-0700
1330 Van Buren St. N.E
Minneapolis, MN

Provided by:

Click here for more content from HowToDoThings.com

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.

...

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

Author: Grace Bloodwell

Featured Local Company

ApartmentSearch by CORT - Bloomington

9528819298
8925 Lyndale Ave. S.
Bloomington, MN

Read more about Home Renting vs. Buying

- 5 tips to get your home ready for sale Minnesota

The following five real estate tips contain all the information you need to know about getting your home ready for sale. Read on for simple yet effective ideas on selling and moving out of your home.

- 5 Ways to Help Your REALTOR® Minnesota
- 5 Tips for an Easy Local Move Minnesota
- 5 Home Buying Mistakes Minnesota
- 7 tips to sell your home Minnesota
- 21 Ways to Enjoy Your New Home Minnesota
- 8 Reasons to Get Pre-Approved for a Home Loan Minnesota
- 1031 Exchange Minnesota
- 5 Useful Tips In Selling House Minnesota
- 10 Easy Ways to Update Your Home Minnesota

Regional Articles

- 5 tips to get your home ready for sale Minnesota

The following five real estate tips contain all the information you need to know about getting your home ready for sale. Read on for simple yet effective ideas on selling and moving out of your home.

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

Advertising	Family	Home Services	Real Estate Resources
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