Is it the Right Time for Me to Buy a Home? (renting Vs. Buying.)

<h1>Is it the Right Time for Me to Buy a Home? (renting Vs. Buying.)</h1>Author: <a title="David Donhoff" href="http://www.articlesbase.com/authors/david-donhoff/24028.htm">David Donhoff</a> Is it the right time FOR ME to buy? (renting vs. buying.)

They say that "Timing is Everything"... but how can we know when it’s really the best time FOR YOU to make the leap into becoming a home-OWNER instead of a renter?

Well, the answer is partly financial, and partly personal/emotional.

Financially; As soon as you can afford the minimum payments to become an owner, you are best advised to GET ON THE BOAT, because the economic advantages of owning your own home are generally more than renting over the long run, and the longer you wait the less of the long run advantages you get to accumulate. EVERYONE has to pay for the housing privileges they consume, whether you rent or own.... so once you can afford the minimum payments you qualify for, it usually makes good sense to take the leap and own your own home.

Personally/Emotionally; Once you've 'settled' into a neighborhood and decided you're comfortable staying there for at least 3-5 years or longer, many people 'feel' more stable and grounded when they see themselves as an owner within their community. Newlyweds often tell us they feel like they have "arrived" as a married family when they finally acquire their very first home... even when it is a first-timer's 'Starter-Home.' As parents, we tend to think that owning versus renting is beyond our kids concerns... but among their social playmates, children are VERY aware of when their family is anchored as "owners" versus renters.

When is it NOT the time to buy a home? When you fully expect to have to move, completely, in less than 3 years... OR, if you simply cannot afford the payments of the financing required to buy the minimum home acceptable to you and the rental of such a home is cheap enough that you can pay it instead (even without getting the benefits.)

If you have additional questions or concerns, you are invited to the No Bull Financial FAQ, where you can post any question, any time, and you will get answers from Dave himself!

--Dave

<a href="http://www.nobullfinancial.com"><a href="http://www.NoBullFinancial.com" target="_blank">www.NoBullFinancial.com</a></a>

<a href="mailto:info@nobullfinancial.com">Info@NoBullFinancial.com</a>About the Author: David Donhoff, Certified Mortgage Planner, has rapidly grown No Bull Financial, LLC, from a small, local, 2 person origination shop to a nationally recognized technology-oriented mortgage finance, loss mitigation, processing and real estate development firm with administrative headquarters 	in Woodinville, Washington, and satellite loan origination specialists in over 15 states operating remotely across all 50 of the United States. 
As a former financial investments hedge fund manager for NorthWest Hedge Partners, as well as a corporate business trainer, sales executive and recruiter in the Anthony Robbins Companies, Dave seeks and trains the best-of-the-best in administration, financial advisors and origination specialists for No Bull Financial, LLC. 
Dave was recently honored and inducted into the San Diego State University Athletic Hall of Fame as a member of the 1987 National Collegiate Championship Rugby Football team, a very unique honor, and a group he says he is proud to be part of. He now lives in Kirkland, WA.Article Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/real-estate-articles/is-it-the-right-time-for-me-to-buy-a-home-renting-vs-buying-156758.html" title="Is it the Right Time for Me to Buy a Home? (renting Vs. Buying.)">Is it the Right Time for Me to Buy a Home? (renting Vs. Buying.)</a>

Is it the right time FOR ME to buy? (renting vs. buying.)
They say that "Timing is Everything"... but how can we know when it’s really the best time FOR YOU to make the leap into becoming a home-OWNER instead of a renter?
Well, the answer is partly financial, and partly personal/emotional.
Financially; As soon as you can afford the minimum payments to become an owner, you are best advised to GET ON THE BOAT, because the economic advantages of owning your own home are generally more than renting over the long run, and the longer you wait the less of the long run advantages you get to accumulate. EVERYONE has to pay for the housing privileges they consume, whether you rent or own.... so once you can afford the minimum payments you qualify for, it usually makes good sense to take the leap and own your own home.
Personally/Emotionally; Once you've 'settled' into a neighborhood and decided you're comfortable staying there for at least 3-5 years or longer, many people 'feel' more stable and grounded when they see themselves as an owner within their community. Newlyweds often tell us they feel like they have "arrived" as a married family when they finally acquire their very first home... even when it is a first-timer's 'Starter-Home.' As parents, we tend to think that owning versus renting is beyond our kids concerns... but among their social playmates, children are VERY aware of when their family is anchored as "owners" versus renters.
When is it NOT the time to buy a home? When you fully expect to have to move, completely, in less than 3 years... OR, if you simply cannot afford the payments of the financing required to buy the minimum home acceptable to you and the rental of such a home is cheap enough that you can pay it instead (even without getting the benefits.)
If you have additional questions or concerns, you are invited to the No Bull Financial FAQ, where you can post any question, any time, and you will get answers from Dave himself!
--Dave
www.NoBullFinancial.com
Info@NoBullFinancial.com

David Donhoff, Certified Mortgage Planner, has rapidly grown No Bull Financial, LLC, from a small, local, 2 person origination shop to a nationally recognized technology-oriented mortgage finance, loss mitigation, processing and real estate development firm with administrative headquarters in Woodinville, Washington, and satellite loan origination specialists in over 15 states operating remotely across all 50 of the United States.
As a former financial investments hedge fund manager for NorthWest Hedge Partners, as well as a corporate business trainer, sales executive and recruiter in the Anthony Robbins Companies, Dave seeks and trains the best-of-the-best in administration, financial advisors and origination specialists for No Bull Financial, LLC.
Dave was recently honored and inducted into the San Diego State University Athletic Hall of Fame as a member of the 1987 National Collegiate Championship Rugby Football team, a very unique honor, and a group he says he is proud to be part of. He now lives in Kirkland, WA.

Rate this Article:

5 / 5 stars - 4 vote(s)

Re-Publish

Article Source: http://www.articlesbase.com/real-estate-articles/is-it-the-right-time-for-me-to-buy-a-home-renting-vs-buying-156758.html

Article Tags: Mortgage, Rent, Loan, Own, Investment, Broker, Buy, Purchase, Homeowner

Related Videos
Related Articles
Ask / Related Q&A

Play

How to Buy a First Home

Play

First Time Home Buyer Programs

Play

First-Time Homebuyer's Credit

Play

How to Rehab Homes in Minimum Time for Maximum Profit Clip 2

Play

Buying your First Home

Latest Real Estate Articles
More from David Donhoff

The Time is Right for Investing in Spanish Property!

By: Russell Owen | 12/11/2009
Real estate prices are falling steadily throughout the country and time is ripe for investing in a Spanish property. The global economic meltdown aided in lowering the existing real estate prices in Spain.

Sucessfully Seek Orange County Foreclosure Help

By: Jim Ryan | 12/11/2009
The recent years have been tough on many home owners residing in Orange County. Many home owners are facing the brunt of recession and are becoming victims to foreclosures and subsequent bankruptcy.

How to Close on a House in Long Island

By: Peter T. Roach | 12/11/2009
Buying or selling a house -- in Long Island, as well as other places -- often takes longer than you expect. Here's why: After the buyer and seller agree on a price, there are still many more steps that occur before closing. While a buyer will have pre-approval for a maximum loan amount from a bank, the buyer will now have to contact the bank in order to draw up documents relating to the specific loan amount that the buyer will need for this transaction.

Impact of Foreclosures on Latino Immigrants

By: James | 12/11/2009
The crisis of foreclosure has brought upon certain sets of issues among Latino immigrants within the area of Kansas City. Due to language barriers, as well as a lack in credit history, a lot of immigrants find themselves vulnerable to lenders that are predatory.

Buy Foreclosure Property Listing

By: Ricky Lim | 12/11/2009
One must not have any second thoughts when an option to buy a foreclosure listing property is available. It is a rare and valuable opportunity. The meaning is that the property has already been sold and you can buy it for a very meager price from the bank.

Salient Features On Orange County Short Sale

By: Jim Ryan | 12/11/2009
The increase in the number of foreclosures in the Orange County has risen over the recent years especially with the downturn and recession. More and more people are being filed for foreclosures and bankruptcy everyday in the area.

Help From Orange County Short Sale Specialist

By: Jim Ryan | 12/11/2009
In addition to bank foreclosures, short sale may often be bought at a discounted amount. As short sales may lead to complicated transaction, it would be advisable on your part to seek help from an orange county short sale specialist (provided you are a resident of Orange County).

Orange County Short Sale: A Brief Synopsis

By: Jim Ryan | 12/11/2009
Orange County serves as a home to the real estate marketing, thereby making it one of the top ranking marketable regions for house sales. Real estate businesses are growing in the county.