Looking For Burnsville Rental homes?

Burnsville Rental homes: Should I Rent One Or Buy?

If you are searching for Burnsville rental homes, pause for a couple of minutes and consider the difference in renting homes versus buying one. Since it is more expensive today to rent homes than to buy one isn’t it at least worth it to consider saving some money by buying Minnesota real estate?

Burnsville Rental homes: Is It Worth The Cost of Renting?

Burnsville rental homes will usually have the advantage that you can get out of a lease arrangement within 12 to 24 months. This advantage comes at a cost, however, , in that your rent payments will often times exceed those of a house payment. Additionally the rental deposit may well be in excess of the entry cost required for buying a home when considering all of the down payment assistance programs available for MN first time home buyers. Finally, perhaps the real cost in renting a homes is the fact that you are helping someone else buy their home with your rent payments, versus buying your own home.

The advantages may certainly be worth it, despite the high cost of renting, to rent if you have plans on moving again at the end of your lease. I tend to think that if you buy a home today you should plan on staying in it for a few years while the market develops.

Benefits To Buying Burnsville homes

With all of the benefits available to the MN first time home buyer today, it is hard to know where to start in terms of listing the benefits. The State of Minnesota now offers special loan programs through its Minnesota Housing Finance Agency to offer reduced interest rates as well as down payment assistance. Additionally many communities today offer additional down payment assistance loans or grants that both reduce what you need for cash to close as well as reducing your monthly payment.

First Step: Get Preapproved for Financing

One of the critical first steps in buying a home is to get preapproved. Most buyers leave it to the last minute because it just isn't that much fun to do. It is very important, especially for the MN first time home buyer to get preapproved for financing before buying a home. Please email me and I will help you with getting started with a Minnesota mortgage lender.

As the sixth largest city in the Twin Cities area, Burnsville, MN is an excellent bedroom community to both Minneapolis and St. Paul. While experiencing a population explosion from 1970 through 2000 tripling in size to just over 60,000, Burnsville is now pretty much built-out and its population has stabilized over the past ten years. Larger employers in the community include Independent School District 191, Fairview Ridges Hospital, as well as Pepsi Cola but most homeowners work in the Twin Cities. Burnsville, MN has homes for sale for both for the MN first time home buyer as well as the move up buyer.

If you have not yet thought of buying a homes I would like the opportunity to discuss with you about the benefits of both rental homes in Burnsville versus buying a home. Please take a moment to email or call me.


Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale