This morning I received an inquiry from a prospective client asking about rentals in the area. During the conversation he told me that eventually they wanted to buy. First, they want to get to know that area. I believe this to be sound reasoning. But in the long run the forecast is for higher interest rates so just what is good for you!
The New York Times recently published ,"Is It Better to Buy or Rent," with an interactive calculator that helps you to decided the perplexing issue of the age old debate.
There are advantages to renting for those who plan to relocate within a short period of time. And yes, there is no substitute for getting to know a community as living there before you purchase a home. But sometimes the financial scale swings the other way. Home prices have returned to 2003/2004 levels in Westchester County so, the buyers market and low interest rates may just make a purchase a really good investment.
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