Chicago IL Apartments
Are you currently renting in a Chicago IL Apartment? If so, why? Property values have been in a steep decline, mortgage rates are still at historic lows, and now rent to own options are prevalent in the marketplace. So why would you still rent, when you can do so much more with your money? If you are renting in a Chicago apartment, consider where your money is going...nowhere! Now, consider if you bought a condominium, or at the least entered into a rent to own agreement.
First, let's look at some basic historical numbers. The NAR estimates that national rent averages increase by 3% per year. Conversely, homes typically appreciate at 4.5% per year. Are you spending money or making money? Paying rent in a Chicago apartment, you are spending money. Owning your own Chicago condo, you are making money. Understand that the real estate market has been anything but normal or typical for the past few years; however that is also what makes this scenario much more intriguing. Analysts have stated that this is the best time to buy a home in over thirty five years. When comparing interest rates, and housing inventory, we haven't seen such a dynamic combination since the early 70's. In addition, consider that home values have plummeted in the past twelve to eighteen months. So in many situations it is plausible to purchase a home at a price comparable to what you might have paid back in 2000 to 2002. How many times in our lives do we wish we could roll back the clock to take advantage of something we missed? You now have that opportunity. The OwnACondo.com site gives you access to thousands of condos in Chicago and the suburbs. This is a once in a lifetime period in real estate history.
However, maybe the reason you may be renting in a Chicago apartment is because you either do not have a down payment, or your credit scores are not sufficient enough to warrant financing. You can still take advantage of the market by entering into a rent to own program. The landlord/seller will hold a part of your monthly rent and return it to you as a down payment when you purchase. Additionally, and just as important, you can negotiate the price you want to pay twelve months from now...today. If you are renting in a Chicago apartment, it's time to reach out and start making money on your condo rather than simply spending money on your home. Start your search today at OwnACondo.com, our team of real estate agents can help you find the right rent to own opportunity, and walk you through the process to make sure you are taken care of.
