Buy Now or Keep Renting?

by Isaac Benmergui, Esq on December 27, 2011

The Miami housing market is hot. Everyone says so. But is this the most opportune time to buy or should you keep renting for a while longer?

Every situation is different, so keep the following in mind while trying to make a decision:

  • Rents are on the way up as more people want to live in the Miami area and competition for space heats up
  • Home values have declined meaning you’ll get more home for your money
  • Home inventory is declining, but there’s a large shadow inventory waiting to come online as soon as banks complete the foreclosure process on thousands of properties. Your dream house might not be on the market yet.
  • Mortgage rate are low; about 4 percent at the moment with the expectation they’re stay low

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

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