Mortgage Rates Give Potential Homebuyers a Reason to Pause

Contrary to optimistic market predictions from a few weeks ago, mortgage rates are continuing to rise around the United States and as a result of these surging numbers, many potential homebuyers are reconsidering their position and weighing the pros & cons of buying a new house versus moving into a rental property.

Renting vs. Buying: Which is Better?

While there are certainly a few benefits to being a tenant, like not having to pay for basic maintenance or repairs should a problem arise on the property, there is something quite special about owning your own home that you simply will not feel if you remain a renter. Additionally, once you purchase and then pay off the property, you will then have a tangible, long-lasting, and hopefully profitable investment to pass along to your loved ones in the future.

Another huge benefit of buying vs. renting is that you won’t have to ask permission from a landlord to perform any minor or major renovations or restorations. Want to knock down an existing wall and build a breakfast nook? No problem. Feel like adding a fresh coat of paint and new fluffy carpeting in the bedrooms? Done. Tired of the boring exterior siding color that blends into the background? Tear it off. Okay, you should probably hire a professional for that last bit, but you get our point. When the home is all yours, you can give it any type of facelift that you see fit.

Reliable Quad City Real Estate Services

Here at The Bassford Team, we have been helping the citizens of the Quad Cities buy and sell their homes for over a decade. Whether you’re searching for a single-family house to raise your up-and-coming family, would like to purchase a residential piece of land to build the home of your dreams, or just want to place your current property on the local QC real estate market, our top-notch team has everything you need.

If you would like additional information about buying a house in the Quad Cities or selling your current QC home, please contact a member of The Bassford Team today at (309) 292-3681 to set up an appointment.