In today’s market, a lot of folks have decided that they’re better off renting than they are buying a new home. Part of this belief is due to the real estate housing bubble that found a lot people in the Green Bay, WI, area entering the renter’s market after having their homes foreclosed on. As unfortunate as that situation was for so many people in Green Bay and across the country, there are some decent reasons why now is a great time to invest in real estate.
Pros and Cons of Renting
One of the best reasons people have for renting right now is that the labor investment in owning a home is taken completely out of their hands. If something is wrong with the electricity or some painting needs to be done, that doesn’t translate into investing a weekend of your time to make sure that it all gets done. They can call the property manager in and have that done for them. Some of the nicer properties are now featuring home-like apartments that are built on the floor plan of a house. They have shared amenities like pools and exercise rooms, as well as shared parks for the kids to play in. A lot of folks that decide to stay in the renter’s market cite the sense of community that is built around these shared amenities. They like the fact that their kids have someone to play with and that they can make friends with their neighbors.
On the other side of the coin, shared rental communities are similar to neighborhoods in that everyone is up in everyone else’s business, but it’s worse because the quarters are much closer together.
Pros and Cons of Owning Your Own Home
The difficulty that most folks will face in determining whether or not they want to why not try this out buy their own home is wasted money. If a typical rent for a family of 4 is around $2000-$3000 a month in a decent apartment, then the average mortgage payment on a house is going click to find out more to be around $450 a month, for a $100,000 house. Two-thirds of that is going to be interest. On top of that, there’s going to be property taxes, maintenance and repairs, and utility expenses. Still, those expenditures will come to about half the total cost of renting an apartment. Another huge advantage is home equity.
“Green bay realtors are selling top article some amazing houses right now at decent prices,” says one local realtor. “It’s a good time to buy a home in this area. Buying a house is still going to be cheaper per month than renting in most areas, but it’s a matter of pricing out your options and determining what’s right for you.”