The current condition of the real estate market here in Seattle has many people wondering whether it is smarter to buy a place of their own, or rent until the prices drop.

Considering the fact that inventory is so low, many people assume that it is smarter to keep paying rent on an apartment and save up to buy later. But what about the thousands of experts that insist renting is a waste of money?

IBuying Seattle Real Estaten today’s post, we are diving deeper into the issues that affect whether it is wiser for you to keep renting, or if it is finally time to buy.

Understand What A Seller’s Market Means For You

You have likely heard the terms buyer’s market and seller’s market many time before, but perhaps you don’t understand exactly what the difference is. In a seller’s market, there is very low inventory, with high demand and a healthy economy to support buyers. In a buyer’s market, the economy is still sturdy enough to support them being able to buy, but there is so much inventory that the buyers have the leverage.

Find Out If You Are In A Good Position To Buy

Before you go any further, you need to know whether or not you can even afford to buy. The best way to do this is to get in touch with one of our brokers who can consult with you and an appropriate lender to assess what financial standing you are in. Even if you can’t afford to buy right now, but want to in the future, they can set you up with tools to get you into buying position ASAP.

Pick Your Priorities

Ultimately, your priorities are going to dictate whether or not it is worth it for you to buy. For example, if building wealth is not a priority for you at this time, you probably won’t mind continuing to pay rent. However, if you want to put those monthly payments back into your own pockets, you will be better off buying sooner rather than later.

Be Honest With Yourself

Owning real estate is not for everyone. Being an owner means carrying a certain level of responsibility that renters don’t need to worry about. However, buying a house is also one of the proudest and brightest moments in a person’s life and rarely something you will regret. If you are nervous or unsure about whether or not you should buy, the best thing you can do is have an open and honest conversation with one of our brokers about your concerns.

Enlist Professional Help From A Seattle Real Estate Broker

Whether you are getting ready to rent an apartment in Seattle, or buy a place of your own, an experienced Seattle real estate broker is your best friend!

Many first-time buyers do not realize that hiring a real estate broker to help or represent them in renting or buying property does not cost anything. In essence, there is no risk or drawback to you hiring a Seattle real estate broker to protect you during this process.

Not only will our brokers protect you in this major transaction, but they will also educate you about the market, get you access to exclusive properties, and answer the many questions that are likely swirling around in your head right now.

Our trusted and experienced Seattle brokers only win when you do, so they are fully committed to helping you find the home of your dreams here in the Emerald City.

Begin your Seattle home search or get in touch with us to be matched with one of our Seattle real estate brokers.