Welcome guest, you have 3 views left. | Register | Sign In
 Contests
 Readers' Choice
 Movie times
 Property Transfers
 Auctions
 Restaurant reviews
action:article | category:REALESTATE | adString:REALESTATE | zoneID:7

Home » Real Estate

AVENUES PARTNERS:
NH homes for sale

Search MLS

Courtesy of


Type:
Residential
Condominium
Multi Family
Land
Mobile Home
Commercial
Rentals

Towns & cities:
Price:
Low:   $
High:   $
Villages:

Locate open houses

Search By MLS #

Classifieds


 ♦ REAL ESTATE
 ♦ APARTMENTS
 ♦ HOME SERVICES
 ♦ MERCHANDISE

Click to place free online ad for items valued under $500.

Opinion

February 25. 2012 12:27AM

Realtor Q and A: If staying 5 years or more, look at buying

Q.: Given the current economy and real estate market, is it better to rent right now or to buy a property?

A.: There are a lot of “Rent v. Buy” interactive calculators that you can find on various websites that will allow you to plug in variables such as your current rent per month, the sale price of the potential home you are considering buying, property taxes, your planned down payment, the current mortgage interest rate and your own timeline for your next move: three years, five years or longer.

These software applications are designed to give a general idea of whether it's a good time for one to buy a home or continue to rent. They have assumptions built into the software such as average closing and settlement costs and the average tax bracket and income of the average buyer. It's a pretty general analysis and after playing around with several of them, it seems that the recommendation that came up most often, based on the (local New Hampshire) variables I used, indicated that five years was just about the timeline that it made sense to buy rather than rent. In other words, if you plan to stay in one place for at least the next five years, then buying a home rather than continuing to pay rent was advisable.

It is largely a function of the lower prices of homes and the interest rates these days, which make ownership so much more affordable compared to renting, particularly for those who do not plan to move any time soon.

Many other factors, however, should be part of the consideration, including job stability, lifestyle and saving habits, to name a few. Even if you don't plan a move in the near future, is your job one that is likely to be moved out of state or even downsized out of existence due to technology or some other factor?

If you are a two-person household, can you make ends meet on a single income if you had to, at least short term? Will you still be able to contribute to savings and retirement plans after buying the property or will you be forced to live pay check to pay check even if there is no interruption in your income? Are you prepared for the commitment that owning a home involves; i.e., repairs and ongoing maintenance to keep the property in good condition?

These are all considerations, but we have only touched on a few of them. Your professional Realtor will be able to offer you a lot more in your initial meeting.

If your basic plan is to move in and stay for at least five years, then it's probably a really good idea to consult a Realtor as it may never be a more opportune time to become a homeowner than it is right now, in 2012.

After all, you have to pay to live somewhere, right? It may as well be your own place.

This information has been provided by the Greater Manchester/Nashua Board of Realtors in conjunction with the New Hampshire Union Leader's Advertising Department. Any questions about the content should be directed to the realty board at 166 S. River Road, Bedford, N.H. 03110 or by e-mail to info@gmnbr.org.




Real Estate

Owners of the Radisson Hotel in Nashua are seeking litigation against the city, arguing that Nashua's previous assessment of the property was too high.

Two Nashua hotels appeal city assessments

Bobcat finds favor in state Senate

Growers didn't let a bad winter stop them

The texture, color and height of stipa grass creates a dramatic focal point for this pot. It gets a burst of color from orange gazania, and the trailing impact of two shades of dichondra,

Great grasses are among the trendy choices for planters

The amethyst color adds to the charm of this carnival glass bowl, viewed from above.

Treasures in Your Attic: Carnival glass still has value to collectors

Home & Garden

The hillside property speckled with apple orchards and other farm products will remain open to passive recreation such as hunting, hiking and snowshoeing.

Easement would protect 95 acres of farmland

READER COMMENTS: 0

The Russell Foundation and the Lyndeborough Conservation Commission are working to preserve 95 acres of farmland at the former Woodmont Orchard, a scenic gateway to the community, which will also...

Zoning board denies variance for multi-family housing, duplexes

READER COMMENTS: 0

A zoning variance request for a proposed subdivision in town was denied by the zoning board, thanks to a strong showing of residents living near the property.

Chris DeLorey, left, and owner George Grondin assemble rows of arborvitae at Faulkner's Landscaping & Nursery in Hooksett on Monday. Because of the lingering winter conditions, the nursery is about three weeks behind on setting up the grounds, but the staff expect sto sell more trees this season because of damage to existing trees from the harsh winter.

Now's the time to assess winter's toll on your yard

READER COMMENTS: 0

You can't get out and dig in the dirt yet, but there are things gardeners can be doing while they wait.

Weather puts a chill on NH's retirement allure

READER COMMENTS: 0

New Hampshire ranks as the 16th best state to retire in, according to a new survey, dragged down by receiving the nation's second-worst grade for weather.

An artist's rendering of the reconstructed Balsams Resort in Dixville Notch.

Balsams project leader's vision includes big ideas, ambitious time frame

READER COMMENTS: 2

The rebirth of the Balsams Grand Resort Hotel could also see the return of commercial passenger aviation to the North Country, the resort's developer says.

Cornucopia Project continues free film series

READER COMMENTS: 0

The Cornucopia Project continues its new Food for Thought documentary series Tuesday night with its second documentary film, My Father’s Garden.

A rental home, among the properties handled by Blue Moose Vacations, offers a tranquil view Ossipee Lake.

Early summer rental benefit as winter takes its toll

READER COMMENTS: 0

This brutal winter got you down? Looking to escape? Well, many blizzard-battered New Englanders already have booked rental lodging hot spots around New Hampshire this summer, especially if their...

Its iconic footbridge and waterfall were backdrops for national reporters  covering the New Hampshire Primary, but the Wayfayer Inn and Conference Center in Bedford is being torn down, making way for a shopping center.

Who's who of national political reporters fondly remember Bedford's Wayfarer

READER COMMENTS: 2

As wrecking machinery tears apart the aging walls of the abandoned Wayfarer Inn, so too is a piece of New Hampshire history being laid to rest.