Buying vs Renting in 2nd Quarter 2017 at DFW !

For all Real estate investors where beginners or seasoned ! There are certain parts of the DFW Metroplex where you can buy a house now and it's value will have increased significantly within a couple of months. Other areas at DFW are just the opposite.

Mandy Chu is a real estate agent with Kingdom Estate says in Dallas-Fort Worth, competition is huge for homes in the lower price range. (Under $200K)

"You're competing with all the investors out there who are dying for investment properties. They are willing to pay cash, and that knocks the home buyer out who has a loan, because with cash you don't have to worry about an appraisal and you close quicker," Chu said.

Real estate website such as Zillow or Trulia list starter home inventory is down a 40 to 45 percent nationwide in the past few years. Here in DFW, prices are generally rising, which means bigger down payments – not to mention rent is rising, too.

"DFW rental prices have gone up 7 percent just last year. It's getting harder for someone who wants to rents," Chu said.

That's why buying could still work out. In Fort Worth and Arlington, the price of homes jumped at least 30 percent in the last quarter. Most people are buying and instantly making money. In certain parts of Dallas such as the eastern sector , is almost flat – with no change in appreciation.

"If you can stay put for up to 10 years, buying is a better deal than renting," Chu said.

Make sure you consider everything from down payments and taxes, to remodeling and maintenance.For some people , it's a clear answer whether renting or buying is the way to go.


This information is brought to you by Kingdom Estate Realty LLC

Joe Goh is a Licensed Texas Realtor with DFWTEXASPROPERTY covering Dallas-Fortworth. For more information, go to www.dfwtexasproperty.com