RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Getting Ready to Rent? Buying Might be a Smarter Choice

April 4, 2017 12:42 am

Between down payments and closing costs, buying a home is a big financial commitment that may seem out of reach for those who ultimately choose to rent instead. However, in today’s market environment of rising rents, the difference in cost between renting and owning is actually narrowing, making this a favorable time to buy a home in most U.S. cities.

According to a recent national index from Florida Atlantic University and Florida International University faculty, the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, 15 of the 23 cities covered are solidly in buy territory, while another five are only marginally in rent territory.

Want to know if buying is a better than renting for you? Ask yourself the following questions:

How stable is my employment situation? Lenders will take the length of time you’ve spent at your current job into consideration, so if you’ve jumped around a lot or just started a new position, that may work against you.

Are you ready to settle down for awhile? Buying a home is an excellent long-term investment, not usually a quick flip. So if you’re still testing out different cities or interested in seeing the world, renting may be a better option.

What shape is your credit in? Your credit score weighs heavily in securing a favorable mortgage loan. If yours is not in the best shape, it may be better to rent while you work at building a better credit profile.

What’s your true financial picture? While your salary may seem more than sufficient to make your projected mortgage payments, keep in mind that homeownership involves many different costs, from property taxes to repairs. So run the numbers carefully before deciding to buy.

The best way to decide whether to rent or buy is to consult a real estate professional in your area. If you’d like more real estate information, please contact me.

Published with permission from RISMedia.


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You Can Still Save for Spring Break 2017

April 3, 2017 2:39 am

If you’re looking for a last-minute getaway, you’re not alone. Hotwire recently announced the top five last-minute spring break travel destinations, and some ways you can save big with your late purchase.  

Where should you go?

Well-known for tequila and mariachi music, Guadalajara, Mexico is perfect for Spring Break travel and prices are 15 percent lower than last year. You can grab a 4-star hotel for $56 a night.

You can never go wrong with a little sunshine. Phoenix, Ariz. has 15 percent savings relative to last year, and 3-star rooms for less than $100 a night.  

Looking for sand and margaritas? Head down to San Jose del Cabo for 10 percent savings compared to 2016. Book a 3.5 star room for $166 a night.

Head to Boston, Mass. for a family-friendly trip and enjoy 10 percent savings relative to last year. Grab a 3.5-star hotel starting as low as $153.

Book a trip to Colorado Springs and see some of the most beautiful iconic red-sandstone formations in the world. With 10 percent savings relative to last year and 3.5 rooms starting at $66, it's a great place for the whole family.

So now you know where to go. But how can you save?

Buying in bundle can help you save significantly. If you buy your plane ticket first, you can unlock even better car and hotel deals.

Traveling during off-peak days and times usually will lend you the best savings. Instead of leaving on Friday, travel Saturday to Monday. Sunday nights are usually the least expensive nights for hotel stays and everything is less crowded.

If you're flying, try to schedule an early morning flight or book the redeye for the best savings.

Source: Hotwire

Published with permission from RISMedia.


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