Is Homeownership Always Better Than Renting?

Is buying a home always better than renting one? Not in every case, but in most cases, the answer is yes.

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Is homeownership always the right decision when it comes to the debate of whether to buy or rent? Let’s say that you’re renting a home now and thinking about buying, but you also know that you’ll be leaving the area within a few years. In this particular case, homeownership is probably not the best idea because you won’t build up enough equity to make the investment worth it. Even then, it could still be a good idea if you want home security for your family or to turn the home into a rental property. If you’re renting a home for $1,800 per month and you rent for three years, that’s $65,000 that you’ve spent on rent. What have you received? A home to live in, but no other financial benefits. No appreciation, no tax deductions.

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The money you spend on your home purchase will go towards much more than your rent.

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If you buy a home and the mortgage payment is $1,800 per month, that $65,000 you will spend in three years will not only go towards your rent, but for your interest and taxes as well. You will get a portion of what you’ve spent back at the end of the year, and continue to build up equity in your home over time. So homeownership isn’t the right decision in every single case, but it is a wise move in most cases. If you have any additional real estate-related questions for me, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.

The Latest News From Lane County as We Move Through Fall

Prices aren’t appreciating like we’re used to in Lane County, but we’re still in a good market.

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For your latest Lane County market update, I’ll do a quick recap of what’s happened since the start of the year and then switch gears to focus on what’s transpired over the last couple of months. We’ve been accustomed to a yearly home price appreciation rate of about 10%, but we estimate that the rate will drop to 6% for 2019. In other words, prices are still rising and we’re still in a good market, but things are cooling off a bit. Since October, the number of pending sales has decreased by 16% compared to the previous month, and the number of closed sales and new listings has dropped 17.5% and 30% during that same time.

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We’ve been accustomed to a yearly home price appreciation rate of about 10%, but we estimate that the rate will drop to 6% for 2019.

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Moving forward, are November and December good months to list your home? There are advantages and disadvantages to consider. There won’t be as many buyers out and about, but there won’t be as many sellers either, so you won’t face as much competition. Furthermore, the buyers who are in the market are more motivated to buy. As always, if you have any more questions about our market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to help you.

What Should You Do to Prepare Your Home for Colder Weather?

If you want to minimize problems in your home this fall, all it takes is a little preparation. Here’s what you need to know.

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I’ve been hearing some rumors that it’s starting to cool off. While I could be talking about the real estate market, the weather is starting to cool off too. Today I have some tips to share that will help you get your home ready for fall: 1. Clear the gutters. If your gutters get clogged up, it causes all kinds of problems and can even damage your siding if not cleaned regularly. If you have a kitchen spatula, you can use that to scoop out your gutters instead of your hand. Make sure you wash it afterward, though! If you have water coming down behind the gutters, that means your gutters aren’t protected with an overlap and that should be fixed as well. 2. Repair any loose or damaged windows or door frames. Seal up any cracks to ensure your home heats efficiently when the weather cools down. 3. Make sure your furnace is running properly. Change your filters, too! The last thing you want to happen is a furnace to break in the dead of winter because you neglected it in the fall. 4. Get a chimney inspection. This can be a very big safety issue if not taken care of.

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Make sure you change your filters.

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5. Have your air ducts cleaned by a professional. It not only cleans up the air in your home, but it ensures there are no leaks either. 6. Cover outside faucets with a styrofoam cup and disconnect all of your hoses. That’s where your problems will start when it starts to freeze outside. 7. Clean up your yard. Clear debris, do your pruning, and be sure to fertilize your grass. Trim any tree limbs that are close to power lines as well. These are just a few simple things you can do to make sure your home is protected as we head toward the colder months. If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.