Buy or Rent Redding, California Home?

be selling in the future or returning to at a later date. The reason we share that it is better to rent is due to the lack of time for a home loan to mature. If you were to buy a home and sell it a year later unless the market is super crazy you will not make much. Possibly not enough to cover the cost of buying the home e in the first place with the closing cost and fee associated with buying a home. Now if you are going to turn the home into a rental home or an investment property everything may work out great as then you will be adding the element of time. If you keep it as a rental property for say ten years it will have surely appreciated in value and you will stand to make some cash. What if you hold it longer? thirty years until the rental has been paid off. Now the rent coming is income minus any experiences. This example is a fantastic idea if you have not bought in the past and are looking to build a Real Estate portfolio. If you aren’t looking for investments, we would say that it is best to rent a house, apartment or a condo for the short term as not to comment funds you may not get back.

Okay, not staying short term you are in for the long haul. Yes, you should buy a single family home if you will be in the are four or more years. This is where the time element begins to work. Not only will you be paying down the mortgage after a few years, but the home will surely be increasing in value. This is the reason for an investor investing in single family homes in Redding CA. The tenant’s rent payment is paying down the loan and the home is appreciating in value. This works on apartments, duplexes, condos and single-family dwellings.