Rent vs. Buy

So you don’t know where to start.  Let’s take a look at the local conditions in Frederick. Click here for the latest Housing Report.  Did you see what the average price homes were last month?  Use one of our calculators to see what your monthly payment will be on a purchase.  This number may vary, please check with a reputable lender for a more accurate number.  Please be cautious of predatory lenders, they have a tendency to charge you outrageous fees or promise one rate up front and deliver a much higher rate later at the closing table.  If you ever have any questions about where to start ask your REALTOR®, a real estate professional who ascribes to a strict Code of Ethics as a member of the National Association of REALTORS® (NAR). They have dealt with many lenders.  Did the price of the homes work for your financing?  If not, you may have to look into Renting.  Click here for our latest list of Rental units in Frederick City.  There are plenty of other sources at our local grocery and retail stores.  You can also check the classified ads in the Gazette or Frederick News Post.  Try the Rent vs Buy calculator. You may be surprised at the difference.  Short term rentals may be the best for you, but if you plan on staying longer, then your best bet might be purchasing your home.  The tax benefits sometime make up the difference of a few hundred dollars a month.

Calculator – (Ginnie Mae Site)
Summary of Local Housing Prices and conditions
Resources for Reading