Should you Rent or Buy?

Renting or buying a home in Midland is very different and some would say most expensive compared to other cities in the United States. What determines the price-to-rent ratios? Its not the short-term changes in prices but the long term factors that determine costs.

For example:

    -Price changes over the past 10-20 years.

    -Employment growth for the past 5-10 years

    -House density

    -Vacancy

These factors have affected Midland drastically. Our prices for homes, lack of vacant homes and employment growth have increased dramatically over the past 5-20 years, therefore making rent high in todays market.

So what is the best decision for you and your family? Take a look at some questions and key points we have come up with to help you make that decision.

Have you saved enough for a down payment? 

    Yes! - you are more than likely okay to buy a home!

    No! - You might have to rent until you are able to.

Can you qualify for a mortgage?

    Yes! - Buy a home! And give us a call today!

    No! - Rent a home, and call us so we can get you with a lender

             who can help get you to the point where you can buy a home!

Do you plan to stay in your home for the next five years?

    Yes! - If all above questions are a yes, then what are you waiting for? Give us a call!

    No! - Buying a home is a big investment and maybe buying a home isn’t the best idea if you don't plan to stay in Midland for long, but you can always sell your home after only two years!

Midland has many options and we, as the Underwood team have many resources to help you get you to where you would like to be! Give us a call today! 432.698.0411! We are happy and eager to help!