36ºF

Realtors say now is the time to switch from renting to owning

FILE - In this Jan. 8, 2015, file photo, a sign with a sold sticker is posted in front of a row of new town homes in Richmond, Va.  (AP Photo/Steve Helber, File)
FILE - In this Jan. 8, 2015, file photo, a sign with a sold sticker is posted in front of a row of new town homes in Richmond, Va. (AP Photo/Steve Helber, File) (Copyright by WSLS - All rights reserved)

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.