Buy or Rent

lisamommy · 03-11-2008, 02:11 PM

We are selling our home in Colorado, for the exact same price we bought it for a year and a half ago. So the market hasn't lost too much value in our city, but still losing some money because of the realtor fees.

We are moving back home to California and the noticed how much the house values have gone back down.

Heard that they are going to keep going down for a couple years.

So now we don't know if we want to buy or rent.

Opinions would be appreciated.

emasaa · 04-02-2008, 04:48 PM

I had the same issue. What we did was tried to decide if our house was going to be an investment or a dwelling. Once we decided that was where we wanted to raise our kids until they are 18, then the decision was easy.

I now don't care if the values go up or down. We just made sure we could pay the mortgage even in very hard times. i

I think if we decided to go the other way, as an investment, we would have held on for just a little longer until we saw something positive in the economy.

lisamommy · 10-29-2008, 05:21 AM

so we ended up renting in California where my hubby has to work. But we did buy a bank owned home near Temecula. We can't stay in it yet, so now are renting that out. Eventually we will move to our dream home, it is beautiful and bought is half price of what is was going for a couple years ago.

VvFallenAngelvV · 01-05-2009, 06:00 AM

Buy!!! Thats all there is to it.

JohnS · 01-06-2009, 10:53 PM

Well, if I had money, I'd definitely buy.

lisamommy · 01-11-2009, 07:38 PM

Our renters have worked out great. We are thinking of buying another home now since the prices are sooo low. I think if you have extra money right now put it into real estate instead of the stock market.

lisamommy · 01-28-2009, 12:59 AM

I agree with you, it is when you buy and sell that is important. Always buy LOW and SELL when high.
I have been very lucky, or should I just say smart with my investments in this area.

Quote:

Originally Posted by yarizona

Rule#1: It is not important what you buy or sell, it is important when to buy or sell.

This is a good time to purchase homes as market is really slow.
(I purchased a home 2 yrs ago and paid 180k cash, now I am unable to sell it for 120k)
Cheers

mark123456 · 04-15-2009, 06:58 AM

In my think you should give your house at rent.

IDALeader · 06-09-2009, 05:28 PM

The question to buy or rent is always a tough decision for people as they make transitions in their life. If you have the money to buy then you have options... if not you are just renting. So assuming you have enough money for a down payment and the income to get a loan your decision comes down to this: Is building equity in a home going to be beneficial to you? If you are in a place where home prices are still dropping you will need to consider if they are dropping fast enough that it will eat away at your equity to the point that paying the interest on the loan is actually sending you in the wrong direction. If that is the case.... rent until home prices stabilize but I wouldn't plan on much appreciation overall in the US for a couple more years.

Jake23 · 06-09-2009, 07:20 PM

I would always say buy if you can, but whatever is best for your financial situation is best.