Tired of your rent going up? Consider buying, mortgage rates are low and you can lock in your payments for years.
Here's a little story from my past... Back in the 80's I lived in a 5 bedroom house down near campus a bunch of us rented for $1100 a month from what I recall. I got to talking with the landlord and they said they were thinking about putting the house on the market for 72K.
Now interest rates were in the 14% range back in '84-'85 and even with interest rates that high (we have it real good now with current interest rates, it's a great time to be buying) it would have saved us a bit of money to buy the house. Of course, we were a bunch of college aged kids all planning on going our separate ways and couldn't swing it, but it was an interesting thought. Since I now have access to past listings I decided to look up the most recent sale, and that house sold in the mid-400s and was renting out at over 3K a month. Woulda,coulda, shoulda... anyways, I'm a firm believer that if you are planning on staying put for 5-6 years or more buying should be a strongly considered if you can make it happen.
Keller Williams Mid Willamette real estate agent
Steve Frisbie is a licensed real estate agent in the State of Oregon. REALTOR®. Equal Opportunity Housing Provider. Each office is independently owned and operated.
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