[Antoinette Minor – Ambassador]

So, I have to move in about a month. I’m a person who can get overwhelmed so any help with any piece to moving would be a great help. I reached out to a realtor who also provides rentals and asked for a few listings.

I told her my budget was small and she didn’t have many in my price range but magically had some listings for sale that would fit my budget. I get that a mortgage can be cheaper but owning a house is more than just the mortgage. I’m just not ready for that and this city is probably not my forever home. Getting first time homeowner perks puts me here for few years.

Has this ever happened to anyone before? Did you go looking to rent but then ended up buying?

[Stacey Daprile – Ambassador]

Real estate can be a great investment – if you are willing to hold it long term. Right now housing prices are climbing, and in my area there is high demand. The houses that go onto the market are selling fast. But that is not always the case. When I went trough my divorce and we had to sell our family home in 2009, the prices were seriously depressed. Even though we had been in the home for 15 years – we walked away with very little profit.

I don’t think that there is a right or wrong answer. The questions you need to answer are are you willing to take on the responsibility of homeownership? That is a big one. How long do you think you want to be in the home? What is the potential for appreciation in the area? What are the tax consequences? Yes, it can get overwhelming, but in the right market – it might be a good investment. Or conversely, once you answer the questions -it might not be the right time to make this leap.

Good luck! You are facing a big decision.

[Antoinette Minor – Ambassador]

Thank you! I decided to just stick with renting. You’re right, I’m not ready to buy and even if it may save money or become a great investment it would be a premature decision for me.