Eden Prairie Rental homes: Time to Buy or Rent?

Eden Prairie Rental homes: Should I Rent One Or Buy?

If you are looking for Eden Prairie 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 a home?

Eden Prairie Rental homes: Is It Worth The Cost?

Eden Prairie rental homes will typically have the advantage that you can get be released of a lease arrangement in about one year's time. This advantage comes at a cost, however, , in that your rental payments will often exceed those of a house payment. Additionally the rental deposit may well be in excess of the entry cost required for buying a home after considering all of the down payment assistance programs available. Finally, perhaps the real cost in renting a homes is the fact that you are helping someone else buy their home with your rental payments helping make THEIR house payments.

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 Eden Prairie homes for the First Time Buyer

With all of the great benefits available to the MN first time home buyer today, it is hard to know where to start in terms of 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.

Get Pre-qualified

The first part in the process of buying a house s to get preapproved for your home loan. This means that you meet with a local mortgage lender who analyzes your credit, income, assets, and debts. In doing so they can tell you what types of Minnesota first time buyer programs you might be qualified for. This first step can usually be done right over the telephone and most lenders will arrange to talk with you when you're off work, even in the evenings or weekends.

Eden Prairie City Info

Located just 12 miles southwest of downtown Minneapolis, Eden Prairie , MN is a popular bedroom community to the Twin Cities. Growing now to over 60,000 residents, the city has more than tripled in size over the last 30 years. Business such as Digital River, Super Value and CH Robinson have their headquarters here. Eden Prairie has consistently been listed in Money Magazines "Best Places to Live" in America over the past 5 years With low mortgage rates and plenty of affordable housing, this is a popular place for MN first time homebuyers and move up buyers alike. If you are looking to buy or sell a home in Eden Prairie please contact me.

Eden Prairie Rental homes: A summary

If you have not yet thought of buying a homes I would like the opportunity to discuss with you about the benefits of both renting versus buying. I offer a totally free consultation, with no obligation and am eager to help.




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