Where To Rent vs. Buy

Although the article below names the 12 cities in which are better to either rent or buy and Miami is one of them doesn’t mean now is the time for you to buy. 

Home values in South Florida have come down so much and interest rates are at historical lows which makes buying a home much more affordable then we have seen maybe ever but that doesn’t mean it is for everyone.  You need to view the purchase of a home that you are going to live in as a lifestyle and a place to live, not as an investment.  You also need to make sure you are going to stay in this home or own it for at least 10 years.  Long term investments are just that, long term.  Anything that is short term has much more risk associated with it. 

The best way to approach buying a home is to get pre-qualified weeks or preferably months in advance.  This way you can be prepared and avoid the types of delays that occur because someone rushes into buying a home and finds out the costs an hour before looking at a home. 

Also, don’t believe everything you read or whoever you talked to that bought a home no matter how long ago.  You need to make sure you have faith in and listen to your mortgage professional and that is what will make the deal go smoothly and close on time.