If you are relocating to Malibu,CA or Calabasas, CA, chances are that one of the biggest questions looming in your mind is whether you should buy or rent a home. Of course only you can make that decision but there are some important factors to weigh. How permanent do you feel this relocation is? Do you have to sell a home before you buy a new home? Are home prices in the area that you are relocating to stable?
There is no doubt about it that buying a home today is more affordable than ever. Low mortgage rates, higher than normal inventory levels and low home values combine to make an ideal buyers market when it comes to real estate. If you already own a home maybe renting it out until the market stabilizes or improves makes sense. If you can hold on to your current home, cover its mortgage, and qualify to buy a new home, you could be in an ideal situation.
Examine the affordability levels of your new location. Is it less expensive to rent, or would a monthly mortgage payment be the same or less than paying rent? Find a Realtor that comes highly recommended and pick his brain. Get to know your new area and weigh the pros and cons of renting vs. buying heavily, after-all, buying real estate is a big investment.
Click here to read a recent article from Bankrate regarding selling vs. renting a home when relocating.
If you are interested in leasing, purchasing a property or selling a property in Malibu, Pacific Palisades, Calabasas or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 her online contact form on her website.
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Judy Kunisaki – CA DRE license 00963582
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