Realtors say now is the time to switch from renting to owning

YOUNGSTOWN, Ohio (WKBN) – Real estate experts say now is the time to switch from renting to owning a house.

Zillow.com says increasing rent, growing home values and decreasing interest rates make buying a house more popular.

The popular real estate website says it takes less than a year for the cost of renting to outweigh the cost of owning a home in Youngstown.

If you are trying to sell a house, a local real estate agent says you should fix the house up a bit first.

“It used to be, when I was young, you’d buy a house and you’d fix it up. It just doesn’t happen today. The buyer’s using everything they have to put into their down-payment, and they don’t have enough money left over to do all the repairs and improvements that are needed,” said John Burgan of the Youngstown-Columbiana Association of Realtors.

Burgan also says interest rates on mortgages are expected to slowly start inching up soon.

The original version of this story was posted on WKBN.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s