Should I Rent or Should I Buy?
This is a good question and many home buyers ask this when they move to Destin/Fort Walton Beach/Mary Esther area ("Emerald Coast"). You see the Emerald Coast is a military town and the Air Force can be very unpredictable and move soldiers around much sooner than was planned. Even with being told the job is going to last 2 to 3 years, buyers are skittish in purchasing a home when they know they are sure to be leaving the area in the future.
There are several things to take into consideration if you are considering buying but not going to be staying long term in the area.
- Do you have pets? Many times you will not be able to rent a home if you have certain types or numbers of pets. This is a good reason to buy your own home and to get one with a fenced yard.
- The market may not have any rentals available. Rents can be high but more than that, they may be scarce or in locations you do not want to live. Buying may be better for you and give you more options.
- Do you like having you own home and the freedom to decorate, paint, landscape the way you want? If this is true then buying a home even for a shorter term period can be very satisfying and make you happy.
- If you indeed move in a couple of years, the market may have appreciated and you may have no trouble selling your home. On the other hand, if that is not the case and it doesn't sell, homes in the Emerald Coast rent rather easily and this could be the start of a good investment portfolio.
- For those with a VA Eligibility, you can buy with no money down and sellers in the Emerald Coast are still paying a bulk of the closing costs for the buyer. This means that buying could be more affordable than renting and paying high deposits and first and last month's rent.
Above all, you need a good agent that can help you sort it out and show you your options. When you want to consider whether buying is for you, contact The Laurie Hollowell Team at 850-269-1369.