Cindy’s Other Blog

In case you are moving to Dallas know that buying real estate over renting makes better financial sense.

Are you torn with the question, “Should I rent a home, or should I purchase some Dallas Real Estate”? Purchasing Dallas Real Estate is always the best option. If you rent, then your monthly payments are going to building equity for your landlord. When you purchase Dallas real estate, then your monthly payments are building equity for you and your family. There are many other benefits to purchasing Dallas real estate such as the benefit of being able to deduct your mortgage interest from your federal taxes, and the borrowing power that the equity in your home provides you, not to mention the pride of home ownership!

Having a family can make it hard and pricey to locate a lease home that has the right amount of room that is needed for you and your entire family. It is not uncommon for folks with families to end up spending more in rent for a lease home than what they might pay for a monthly mortgage payment if they had just purchased a home.

The main reason that people rent homes instead of buying homes when they move to a new city is because they are not sure yet what part of the city that they will want to live in or what the home prices are like in various parts of the city. But, if you are savvy and the Internet and the services of a great Dallas real estate agent you can find some nice Dallas real estate for sale and you can complete the entire process of buying Dallas real estate as easily as you could rent Dallas real estate.

If you are relocating and can’t be in town to look at the Dallas real estate that is available, then enlist the help of a Dallas real estate agent. Your Dallas real estate agent will be able to tour the properties and email you videos, photos, land surveys, and all other information about the homes. And when you are ready to purchase Dallas real estate, that agent can help you apply for a mortgage and create a working relationship with a lender the same way you would apply for a rental home and create a relationship with a landlord.

Worried about the down payment that you’d need to buy Dallas real estate? Don’t be. If you work with the right lender and you make sure that your credit rating is good and your credit reports are accurate you might be able to get a no money down home loan.

When you purchase Dallas real estate with a no money down mortgage, you can move in to your new piece of Dallas real estate with less out of pocket expense than renting. When you rent, you need to come up with first months rent and a security deposit. On a larger rental home this can be very expensive. In addition to no out of pocket expense when purchasing Dallas Real estate, you can structure your new mortgage so that you don’t have to make a payment until the second month after move in. This will allow for more money to move and get settled into your new Dallas real estate.

Compare renting Dallas real estate to buying Dallas real estate and you’ll find that you can actually save money when you buy Dallas real estate instead of rent.