Woodhill Homes Blog

It is not a secret that home sales around the nation have declined from peak levels reached in 2005. One can speculate about the reasons for the downturn, but I’m interested in finding answers to why it has continued despite solid fundamentals.

During recent discussions with realtors, I have discovered that there are consumers actively looking to purchase homes but that they don’t have any sense of urgency.

Therefore, I pose this question to our readers, “What are the reasons that many actively looking home buyers are sitting on the sidelines, seemingly waiting for something to happen? What is it that they’re waiting for?”

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This is something that was given to us by the OAPERI, located in Bend, Oregon. We have found it very informative, and so therefore are putting up the info here as part of a series (”Buy, Rent or lease option?”).

LEASE OPTION

The third way you can control property is through a hybrid alternative. In a Lease Option (also called Rent-to-Own and Lease Purchase) you can control the property for a specified period of time and perhaps even enjoy appreciation without be obligated to actually purchase the home.

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This is something that was given to us by the OAPERI, located in Bend, Oregon. We have found it very informative, and so therefore are putting up the info here as part of a series (”Buy, Rent or lease option?”).

RENTING

Financially speaking, maintenance is not very much a concern. It is the landlord’s responsibility to fix the plumbing if something breaks down. Moving is easer when you rent. Of course, this depends on the amount of belongings you have, but generally speaking, people who rent tend to have less “stuff” than people who own. Extra fees are usually nonexistent.

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This is something that was given to us by the OAPERI, located in Bend, Oregon. We have found it very informative, and so therefore are putting up the info here as part of a series (”Buy, Rent or lease option?”).

HOME BUYING

The true cost of home buying, is more than the down payment and mortgage. There’s also private mortgage insurance (if your down payment was less than 20% of the home price), homeowner’s insurance, property taxes, and maintenance. These costs can increase your monthly payment by 40%.

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This was given to us by the OAPERI, located in Bend, Oregon. We have found it very informative, and so therefore decided to put up the info here as part of a series (”Buy, Rent or lease option?”).

For more useful Real Estate info in Bend, go to their site:

Oregon Association of Professional Real Estate Investors (www.oaprei.com)

Buy, Rent or lease option?

Making the choice of how you want to control property and create wealth can be a difficult decision. It is, however, one that has to be made at some point as you consider whether to rent or own property.

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