Get out there in the marketplace and just go buy a house. Rent sucks!

So this blog is not to tell you to get out there in the marketplace and just go buy a house and rent sucks. There's a lot of that going around, and a lot of that going on, and a lot of that is true. But the one thing I did want to say is when it comes to buying a house and reasons to buy a house and all that stuff, it's all based upon what people's own personal experiences, personal preference, and all that other stuff is.

Interest rates are up over 7%, like 7.08% nationally, I think I just heard. So interest rates are going up. So people are thinking, "Why in the world would I go and buy a house at these inflated prices, at this inflated interest rate?" I hear you, because it doesn't make a lot of sense, but what's your other alternative? To rent a place. And basically what's going on right now is I'm in the market and I'm talking to people is rents are going up. So at the end of the day, now you're at this crazy battleground where it's like, "Do I fight the inflation rate with buying a house or do I go in there knowing that I'm going to pay a higher monthly rent because rents are going up?

So there's a lot of people who are kind of confused or a lot of people who don't know what to do. The one piece of advice that I would give you is let's sit down and let's talk through all of the options, because you can be on one side of the fence or the other, but why don't we sit down, put some numbers to it, and talk through what's actually going on and see what fits your own personal appetite.

Because one person's saying, "The interest rates are up high, but rent's going up high too and I would rather just buy something now and when the rates do go down, I'll refinance and solve it that way." And some people say, "No way, Jose, because the rates are still way too high. It's making my monthly payment way too high. Even if I refinance in the future, my rates are still going to be higher than I'm looking to pay or higher than I'm comfortable paying." So it's all based on personal preference.

So with that being the case, instead of just completely saying like, "Ah, screw this." Let's sit down and have a talk because we can talk through all of the different scenarios, all the things that make the most sense for you, what doesn't make sense for you. At the end of the day, you got to feel comfortable with the decision that you're going to make. Nobody wants to get hosed. Nobody wants to get hosed. Nobody wants to get hosed.

So instead of doing all that stuff, just have a conversation with your agent. It doesn't take all that long. It's not difficult. There's no pain involved, not going to break an arm or anything like that. But sit down and get the information that you need so that you can make your best educated decision. Right now, the real estate game is low and slow, so the inventory is low and things are moving kind of slow right now. I totally get that.

What are some of the perks and benefits to buying versus renting or renting versus buying? Obviously over the long haul, when you buy a property, then you're putting money into that, gaining equity, and at some point in time when you turn around and you look to sell the house in the future, the hope and the goal is, and it's been pretty steady over all of time, but usually properties appreciate in value. And so you gain all that equity by buying a place. Whereas rent, you ain't getting nothing. You rent a place for a year, two years, three years, and then when you leave, there's no possible chance of recouping any of that money because you don't have any built in equity.

Now why would some people say like, "Hey, I got to rent?" If you only plan on being in an area for a year or two or three or four, it might make sense to just say, "Hey, I'm just going to pay the money, something temporary," because you have to start weighing in what is it going to cost you to acquire the house if you purchase? Because yeah, you got to put down payment and all that stuff, but there's closing costs and there's other things that go along with it. You got to pay for inspections, appraisals, and all those things. And they all add up. So if it makes more sense from a financial standpoint to rent for the short term as opposed to buy something and pay all that cost and do all those things, then it makes more sense to rent.

Does it make sense to jump in and buy when it's at 7% interest rates? For some people it does. Some people, they need a place to live and they're going to be there in the long run and they just say like, "Hey, at some point in time when the rates do dip back down, we'll just refinance."

It is all personal preference and it's all a case by case scenario. So I don't want you to think this video is a blanket statement like, "You got to buy a house. Rent sucks. Rent's terrible." Yeah, this is not that because everybody's situation is their own situation. So let me know what you think, throw it down to comments, I'll read it, I'll respond. And based on your question, maybe I'll make a whole nother video just for you. It's like you won the sweepstakes.

Make sure you stay tuned because I'm going to start putting out some more videos on different neighborhoods, kind of giving you the rundown on what it's like to live there, the amenities, location, access points, all that good stuff. So make sure that you guys stay tuned to my YouTube channel because that's where all the good stuff is. But more stuff is coming, I promise you that. Enjoy your day. I will see you all very soon on YouTube.