Realtors say now is the time to switch from renting to owning
YOUNGSTOWN, Ohio (WKBN) – Real estate experts say now is the time to switch from renting to owning a house.
Zillow.com says increasing rent, growing home values and decreasing interest rates make buying a house more popular.
The popular real estate website says it takes less than a year for the cost of renting to outweigh the cost of owning a home in Youngstown.
If you are trying to sell a house, a local real estate agent says you should fix the house up a bit first.
"It used to be, when I was young, you'd buy a house and you'd fix it up. It just doesn't happen today. The buyer's using everything they have to put into their down-payment, and they don't have enough money left over to do all the repairs and improvements that are needed," said John Burgan of the Youngstown-Columbiana Association of Realtors.
Burgan also says interest rates on mortgages are expected to slowly start inching up soon.
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