Rent vs BuySo the big question buyers in East Idaho are asking is whether to continue to rent or buy a home.  It is a good question and one that has a lot of Buyers wondering which option is the best.   Although there were some good incentives like the Federal Tax Credit that have expired, it is still a very good time to buy.

Home prices have adjusted to a level that makes them affordable again, Buyers should take advantage of some of the bargains out there.  Whether you are looking for a single family home, a town home or even a multi-family home there are deals out there in most areas and in most price ranges.  Buyers can find great deals on distressed properties which include short sales, and bank owned properties and even motivated Sellers that still have equity in their homes

I often hear of people saying that they are waiting to buy a home until the banks loosen up their lending guidelines.  Don't get hung up on this, there are still some great loan programs available and the process is not that bad if you will use a good lender...I can help with a recommendation.  With decent credit scores there are still loan programs out there that are 100%, certain areas will not qualify due to population.  For most the FHA loan is still a great option and only requires 3.5% down. 

Another option that is a little less traditional but becoming more popular is looking into a lease option purchase or an owner carry option, these deals are out there and has become an incentive that Sellers have used to sell their properties.

If you would like to see the numbers on which is better: rent vs buy in East Idaho you can use the rent vs buy calculator click here to use the calculator

Take advantage of the low interest rates, great prices on homes and quite paying rent and throwing your money down the drain, there are many advantages to home ownership the you should take advantage of.

The next post I will discuss how a 2% change in interest rate will affect the price of the house you can afford while maintaining the same monthly payment.