In Dallas, do I buy or rent?

(Partner Article) Planning to move to Dallas? Know that you would arrive in one of the most dynamic real estate markets in the United States. According to the Census Bureau, more than 100,000 people have settled in the Metroplex in recent years.

Should I buy or rent by moving to Dallas? For Carmen Ana Reyes, Real Estate Agent at Avangard Real Estate Services, there is no doubt: buying is still the best option. Here's why, according to this professional with 31 years of experience in real estate (including four in Dallas) and who has lived in France.

House prices are constantly rising

They have seen a 90% increase in the last ten years and 40% last five, according to the expert, specializing in Dallas, Plano, Mesquite, Arlington or Frisco. This increase is linked to the booming business opportunities in Dallas that are attracting many people, "while the inventory of available housing is limitedshe explains. If an expatriate stays seven years or more, real estate is likely to appreciate, while rent brings no return on investment".

Interest rates are still low

"Three years ago, the interest rate was 3.8%. Now the average rate is 4.5%", Observes Carmen Ana Reyes. A trend related to the growing demand for real estate loans. Despite this increase, they remain at a relatively low level. This is the right time to buy.

New housing is developing in the suburbs

"As the City of Dallas predicted the demographic boom", She granted new economic incentives to encourage the construction of new homes. Result: "new communities come out of the earth"In the suburbs of Dallas, she notes, like The Tribute at the Colony.

More advantageous to buy

In the current market conditions, Carmen Ana Reyes believes that the purchase is more advantageous in the long term than renting. She takes as an example the purchase of a house of 204 square meters for $ 240,000. The mortgage repayment for this type of property will reach "$ 1,224 per month"In case of a thirty-year loan with interest at 5%. "The rental of this property could reach $ 2,200 per month at least, she says. Monthly rents increase as condo owners use the current housing shortage".

To learn more about real estate opportunities in Dallas and the surrounding area, contact Carmen Ana Reyes:

E-mail: careyes@avangardgroup.com
214 – 521-7699 (office)
214 – 521-7740 (fax)
214 – 842-7769 (mobile)
Site

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