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Should You Buy or Rent a Home in Fayetteville NC?

Should you buy or rent a home in Fayetteville NC?

That is the million dollar question! I was in a meeting yesterday with a mortgage representative and we talked about this topic for a bit.  If you do not own a home today now is the best time to be a buyer! Rates are still at an all time low and home price’s are better now than they were some years ago.

Buying VS Renting

So from today’s perspective we have no where to go but up from here… What I mean by that is up with the interest rate, which means you will not be able to buy as much as you can today.  because even if the price is the same as today the payment will be more because of the higher interest rate.  The home prices are starting to come around also… this time next year the home you could buy today could be a few hundred or a few thousand dollars more.  If we had a crystal ball (BOY DO I WISH) we could say for sure, but none of us do.

So my advice to non homeowners today is: If you are going to be in Fayetteville for the next few years then buy a home.  whatever you choose no matter the price range I can promise you that to rent that same house is going to cost you more!  Some buyers depending on the loan program used can purchase a home with LESS money up front than it cost to rent a place. If I didn’t won a home I would be buying one I can tell you that!

There are some other factors that will play into this topic but that is my quick answer… When you meet with someone on the Mckinney Realty Group team they are going to go over a lot of different issues with you and help you make the best decision for you and your family. But one thing is for sure, your money will buy you more today then it will in the future!

Give us a call and let’s talk about all of your options when it comes to buying a home in and around the Fayetteville / Fort Bragg area 910-644-0222

We look forward to serving you with all of your Fayetteville NC real estate needs!