The phone rang, it was a person relocating to the Prince William County Virginia area in a few weeks and they have been searching for a nice rental home in Lake Ridge, Woodbridge, Lorton and Dumfries Virginia area. They quickly realized nice rentals are hard to come and you need a bank loan just to pay for the first months rent, security deposit and pet deposit. The caller said, it is so expensive here. " In order to put in an application to try to rent a little single family home, the agent they talked to said they need certified checks for the application processing fee ( $50 each) then a two thousand dollar certified check for the deposit and then another certified check for $2000 if we are approved for deposit and they need another certified check for $750 pet deposit for the two dogs! "
"Peggy...that's $4750.00 to get a rental. Why would anyone do that? Isn't it less expensive for me to at least consider buying a home instead of renting?"
I answerd, well it depends on your situation and your ability to qualifiy. The caller then said, that is why I called you. I read your post about Is It Really True a VA Buyer Can Buy a Home No Money Down. Can we come talk with you. We're thinking it might be better to just try to buy. I have a VA Loan that I have never used, we have very good credit and we just need help, we don't know the area at all. Then the caller said; "What I want to know is, can I do that is less than forty five days or so. We need to be in a home before the holidays. We also want to make sure we are in Eastern Prince William County Virginia area that is close to I-95, Fort Belvoir and Quantico . My wife will be working up near the Springfield Virginia area, and I will be working at Quantico Virginia."
I'm meeting with them this weekend. However, I wanted to share this with you all.
Let me show you a Rent Versus Buy example that may help you see the big picture! The calculations below our from the Realtors MRIS Database. The example below shows what the breakdown looks like when you are renting a home for $2000 a month. Another assumption in this example is I am working with the caller who is VA Eligible and can purchase with a Zero Down Payment and I am able to negotiate most closing costs for the buyer.
How is that possible? Here's the breakdown...
Disclaimer:The information provided by these calculators is for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.
" You would want to hire me as your REALTOR®, if you're looking for a high energy, positive, take charge,knowledgeable person that is passionate about helping you get what you want! "
That's me! I'm easy going, and prefer to communicate by email, text and I use the latest technology to not only to stay in touch with you, but to market homes for sale as well and to negotiate.
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The area's I service in Virginia are Lake Ridge, Woodbridge, Manassas. If you live outside these area's let's talk. If you have found my information helpful and you like what you see, chances are if I cannot help you, I know another REALTOR® who can.
Tip: when reading any blog post, pay close attention to the date post was written as homes sell quickly. Call author for up to date information.
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Note: This real estate blog is written by me Peggy James and it is is my opinion and may not reflect the opinion of Exit Choice Realty 14067 Crown Ct, Woodbridge Virginia 22193.
I have been blogging since 2008 and I am a full time REALTOR® .