The most timeless argument in the field of Tulsa real estate is trying to figure out which is better: renting vs. buying. Both choices have their advantages and disadvantage that could play a part in a homeowner’s reasoning process. Here are some questions to ask yourself to figure out which one might be better pick for you.
Do You Get Bored Easily?
Are you someone that likes to pick one place to live and stay there for the rest of your life, or do you get bored with a home after a few years and like to mix it up? If you are someone that likes to stick to one house for around 5 or more years, you should simply buy a Tulsa real estate property. But, if you stay less than that time, don’t bother trying to buy a home because you’ll spend most of your time moving in and moving out.
Do You Have A Down Payment?
Most homebuyers need some type of down payment in order to get into a mortgage. If you have a substantial savings or at least enough to throw down a 5-20% payment, you might as well invest that money for the time being and make monthly payments to yourself. That way whenever you sell the home you can get all of your mortgage payments back.
How’s The Housing Market?
Renting has a clear advantage when it comes to a volatile housing Tulsa real estate market because you aren’t trapped in home trying to get out. Renting allows you the flexibility to jump around at will, and a little more leverage over desperate landlords trying to fill their units. Buying a house will mean that you are stuck like the rest of the homeowners and in a competition to see who can offer the lowest rates.
The convenient thing about both of these choices is that there is Tulsa real estate professionals out there that can help you find what you are looking for. Buying a home means ownership, and this can be beneficial to you in the long run when you go to sell, but buying isn’t for everyone. Even in a troubled housing market, a Tulsa real estate agent can point you toward alternative home buying and selling options to get you the best deal and ensure your satisfaction.