Orlando is one of te 66 cities listed where it is better to buy than rent.
According to MSN Real Estate Orlando and Kissimmee are on the list of 66 of the best cities to buy, and Florida has 7 cities on the list. Florida has no state income tax, and our homestead exemption also gives you a property tax benefit for primary residences.
Why is this important for renters? Well if you are a renter in one of these cities the opportunity to purchase is very good right now and Orlando is one of them.
If you are renting this may be best time to consider home ownership with lower prices and high inventory not to mention a time to start investing in your own equity vs your landlords.
The cost of owning could be less with a 6% loan versus higher rental costs. It is still important that you have good credit.
How were these cities selected and where are the rest?
Information was used from the National Low Income Housing Coalition and Center for Economic and Policy Research.
Here is the list from MSN Real Estate article.
As the market for subprime and zero down mortgages got tighter, you might be surprised to see how FHA has changed to help buyers and sellers in today’s market!
What about insurance costs of owning a home? You can save 30% on insurance costs if you use the same company for car and home.
So what are you waiting for falling home prices, FHA loan options, and good credit will help put you on the path to home ownership.
Check out all homes for sale in our Orlando area, we also can check out bank owned homes and great vacation home opportunities. If you are ready give us a call today Buying Selling Relocating We Can Help.