Keep Renting or Start Buying?

We get this question all the time. If you buy too soon, you may have to settle for the wrong house. If you wait too long, you'll spend more on rent than you should. The decision to stop renting and start buying is a big one - but it's not impossible. Read on to discover which option is best for you. 

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There are many benefits to buying a home, here are just a few:

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PART OF A COMMUNITY

Take part in the benefits of a neighborhood association 

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BUILD EQUITY

Your mortgage payments can help you build credit and equity

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YOUR HOUSE, YOUR STYLE

You can choose to decorate any way you like - no limits on style

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STABLE PAYMENTS

Rent increases every year, mortgage payments don't change

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FEWER RESTRICTIONS

Have pets, play the drums, and park in your own driveway

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TAX BENEFITS

Property taxes and interest are deductible on your income taxes

More Resources for Your Research

HOW MUCH HOUSE CAN I AFFORD?

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When you begin looking for a home, you will be met with dozens of opinions. Everyone has a different idea of where, when, and how you should purchase a house. 

WHEN IS IT TIME TO STOP RENTING?

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When benefits of renting run their course, you start dreaming of owning your own home. So how do you find the sweet spot where renting ends and homebuying begins?

FIND A HOME THAT FITS YOUR TASTE

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Buyers must know what to prioritize, what to budget for and what to compromise on when it comes to finding the right home. Here are some tips to help you find the best home!

Why Choose Ruoff?

 

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60

BRANCH LOCATIONS

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35

YEARS OF SERVICE

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98.8

SATISFACTION RATE

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17

AVERAGE DAYS TO CLOSE

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When's the Right Time?

Buying a home is a big decision, and it shouldn't be taken lightly. You've started researching your options, but don't just dive into homeownership. Your patience will usually pay off. 

When choosing the right time for you, consider your lifestyle, your finances, and your stability. If any big changes are taking place in the near future, you will want to wait on buying a home. One of our Loan Officers would be happy to review your current situation and help you decide when you can confidently begin the homeownership process.


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Real Homeowners. Real Reviews.

Faith Greene

Thank you Ruoff for helping my fiancé and I find and own our first ever home! So awesome to have such patient and understanding people help us through this process!

Faith, Homeowner

Ayreal Lanman

My husband and I finally bought our first house! A big thanks to my loan officer at Ruoff for helping our dream become reality! New home, new beginnings, new memories!

Ayreal, Homeowner

Sarah Goodman

We just purchased our first home thanks to Ruoff!! We can’t wait to be all moved in!

Sarah, Homeowner

Are you ready?

Which is better for your personal financial stability: renting or buying? It is important to create a budget and weigh your options. Download our Home Budget worksheet to get all your numbers in one place. Practice paying homeownership costs now so you will be financially ready for a home in the future.

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Frequently Asked Questions

Buying a home can be confusing, but it doesn't have to be! We have compiled some of our most frequently asked questions for you to review!

 

How should I decide if it is better to keep renting or buy my first home?

There are pros and cons to both buying and renting. It might be a cheaper monthly payment to buy your own home than rent, but you also become responsible to fix or replace anything that goes wrong as a homeowner. Along with that responsibility comes a lot more freedom to do what you want — remodel, add on, have pets, plant a garden, and more!

Do I need a pre-approval before I start looking at homes?

Obtaining a pre-approval for a mortgage is key, because this will enable you to find a home within your price range, that will fit into the guidelines of your particular loan type. Sellers love to have Pre-Approval letters too, and are more likely to accept your offer because you are backed by a mortgage company.

How do I start the homebuying process?

We believe the best way to begin will depend on what you are most comfortable with. You can start an application at our website, on your mobile device with the Ruoff application, over the phone, or in person. We even have the option of automating your income and asset documentation depending on the type of loan. Here’s a short list of some items to gather: Copy of your driver’s license Last two years W2’s and Federal tax returns Pay stubs for the most recent 30 days.

 

More Questions?

Head over to our FAQ to read more of our answers!

 

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Ready to Make a Change?

Find Out if You are Ready for Homeownership Today!

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