Is Now the Time to Buy a Home in Northern Virginia?

The question of whether to rent or buy is a difficult one, and has
persisted with consumers for a long time. What you should know is
that the price of both buying and renting is rising, and the 2014
national median home price was $208,500, which is an increase of 5%
from 2013 (according to the National Association of Realtors). The
average rent payment has also increased by 12% from January 2013 to
December 2014. Buying is currently a very attractive option because
interest rates are incredibly low (below 4%) and loan products from
Fannie Mae and Freddie Mac only require a 3% down payment. But
potential home buyers should remember that owning a home is not a
liquid asset, even though it’s a good thing to add to a portfolio.
Of course, buying is only a good option if you have a stable job
that doesn’t require you to move around a lot. **Also, if you’re
only expecting to stay somewhere for 3-5 years, it’s probably
better if you rent. ** “Buying is currently a very attractive
option because interest rates are incredibly low.” Even people with
enough money for a down payment on a home are choosing to rent. If
you’re living a lifestyle where you’re constantly moving around and
relocating, then I would not suggest that you purchase a home. It
will be more trouble than it’s really worth. It’s important to
consider all of your options before making a decision, and I would
be extremely happy to help you come to a decision. Whatever you
decide, I know professionals that I can refer you to in order for
you to find housing that matches your needs. Please refer to me
with all of your Northern Virginia real estate needs.