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Rebecca Brayton: To own or to rent, that is the question. Hi! I’m Rebecca Brayton and welcome to watchmojo.com. And today we will be speaking with Sandra Rinomato, host of HTTV’s Property Virgins to get the answer. A few years ago, everyone was provided with the option you buy house and that’s generally seen as the reason for the housing crisis. Do you agree with this?
Sandra Rinomato: Actually it’s a great term to buy houses now and everybody has the opportunity now. I think it’s going to be a flip side because before houses were not affordable for a lot of people. So, now with the softening of the market and pendulum swinging from a sellers market through a buyers market we see more opportunities for buyers. Mortgages are readily available; interest rates are very, very low. That’s wonderful for buyers because it’s done your monthly expenses it’s going to be last and maybe you can afford a bigger house and you couldn’t afforded with interest rates are higher. Also there’s inventory available so buyers actually have choice now, instead of feeling like or have to get this hosts. Oh my gush and I don’t get this host and what I’m going to do and what’s going in beating more in multiple offers and I don’t have time for a home inspection. So, it’s a much better climate for buyers, essentially on the case by case situation you can negotiate some great prices right now. So, as long as you have a motivated seller and you are a motivated buyer there could be a great deal.
Rebecca Brayton: Who should own and who should rent a home?
Sandra Rinomato: Well, a lot of people are relocating to different cities or different countries so; I would recommend that they rent to find out what sort of vibe the city has and where they want to be, and what there needs are in this new city and what great school districts or what great dog park whatever they’re needs are. So, rent, rent for six months or a year if you can and figure it out by then and then purchase. That’s a great time to do it or if you’re blending families you want to try it out. Maybe rent, but don’t rent really long term because I think you have good opportunity to invest in real estate and build some equity that way.
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