Page 2 - Chehalem Business Connection December 2013

Page 2 Chehalem Business Connection December 2013
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What’ll it be? Should you buy or rent a home?

Coldwell Banker offers four questions to consider when making such a life-altering decision

o buy or to rent?” ing the jump into homeownership, tors available on websites such as order to buy a house? A local real

Recent graduates, potential homebuyers should con- www.coldwellbanker.com offer a estate professional can help you
young couples, relo-
sider the “soft” lifestyle issues as good start, but there are numerous understand current local market
cating professionals and others well as the “hard” financial ones. factors beyond straight economics conditions and will help you make

have all asked themselves this The professionals at Coldwell that also need to be considered. smart decisions when listing a
question at one point or another. Banker Real Estate LLC have pro- Don’t hesitate to speak with a real home on the market. If you do not

While each option has its bene- vided the following four financial estate professional even before currently own a home that needs
fits, the decision to purchase an and lifestyle questions to consider you’re ready to
to be sold prior to

apartment, condominium or when determining if buying a buy a home. Along
purchasing a new
“According to a recent survey from the
house, as opposed to renting, is home is the right decision for you:
with a financial
one, now is a par-
complex and based on a number Do you have a steady income? National Association of Realtors, nearly planner, a real es-
ticularly smart

of factors.
At or near the top of every poten- eight out of 10 respondents believe buying tate professional
time to buy. Even
According to a recent survey tial homebuyer’s mind is whether a home today is a good financial decision. can help you an-
with lenders be-

from the National Association of they can afford to buy a home The question that remains is whether now swer and uncover
coming increas-
Realtors, nearly eight out of 10 re- right now.
is the right time for you to buy a home.”
ingly more thorough in their ap- questions about the cost of home-

spondents believe buying a home Buying a home remains a sound proval process, mortgage financ- ownership.

today is a good financial decision. financial decision for those with Do you plan to stay in a home ing is still widely available for
The question that remains is documented income and a good for an extended period of
those with a steady income and

whether now is the right time for credit history, and a steady income time? With proper planning, a solid credit.
High inventories and low inter- you to buy a home.
can provide a strong backbone for home purchase has historically

For most people, deciding to est rates give first-time homebuy- the initial down payment and fu- proven to be one of the safest in-
buy a home is the largest financial ers a tremendous amount of op- ture mortgage payments.
vestments one can make. Along

decision of their life. Before mak-
Buy-versus-rent calcula-
portunity and flexibility in mar- those lines, it’s imperative to un-

kets across the U.S.
derstand that investing in a home
is much different than investing in How do your other options

a stock portfolio.
compare? For renters, calculating
Homes typically appreciate in month-to-month housing expenses

value over time while the owner is as easy as inquiring about the
builds his or her equity through monthly rent and average utilities.

monthly mortgage payments. If The calculation gets a bit more

you anticipate staying in a home complicated when considering the
for only one or two years, it does- monthly cost of owning a home. A

n’t necessarily mean buying is not real estate professional can help
for you, but you are less likely to you understand a range of finan-

see a significant financial return cial considerations from annual
on your investment.
property taxes to the tax incen-

tives for owning a home.
Do you plan to sell a house in

Chehalem Business CONNECTION

P.O. Box 700 • 500 E. Hancock Street

Phone 503-538-2181• Fax 503-538-1632

nbgnews@newberggraphic.com

The Chehalem Business Connection, a publication that connects the residents with the business

community, is published monthly by The Newberg Graphic. Some of the articles are repeated from
the weekly business pages of the newspaper and some are contributed by the advertisers.

For more information about how you can participate in this publication, contact the CBC
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advertising team. Call 503-538-2181 or email: Paula Becker - pbecker@newberggraphic.com, 2011
or Allen Herriges - aherriges@newberggraphic.com.
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