Buying vs. Renting | US Virgin Islands Real Estate Blog

US Virgin Islands Real Estate Blog

Buying vs. Renting

Have you been considering making the transition for renter to home owner?  Today’s economic times are strange ones, on one hand, the market is flooded with inventory and prices are at all time lows; on the other hand, the economy is still shaky and unemployment is at an all time high.  To buy, or not to buy seems to be the question of the day.

It seems that the old adage still stands.  If you’re not planning on staying in your home for at least five years it doesn’t make sense to buy.  It can take at least five years to make recoup the costs of buying a home.  The days of buying a house and selling two years later at a tidy profit are gone, and may not return.

However, interest rates and home prices are at historic lows making this the perfect buyers market.  So, after evaluating your own 5 year plan and you find yourself staying put it’s a great time to invest in home ownership.

For more information on buying and selling property in the USVI, contact Jennie Rosenberg at 340.690.4903 or jennie@seaglassproperties.com.

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