Solano Real Estate Scene: Buy now or later?
For renters, the question of whether you should buy now or wait for a year or two for me is a very easy answer.
A landlord that controls your housing situation affects your personal freedoms.
Having a dog or four or five other types of pets like cats, rabbits and chickens may require a landlord approval. Blasting your stereo could be frowned upon by your property manager.
Paying your rent on the 15th of the month when it is due on the first could get you kicked out or at least a late charge of $50 to $100 after the five-day grace period.
A mortgage payment has a 15-day grace period and they can never throw you out of your house if you stay current on the payments, including taxes and insurance.
Rents can be raised once per year and increase with inflation. Rents have pretty much doubled in Northern California over the past 20 years.
A fixed-rate mortgage stays the same for 15 to 30 years and never goes up and the best part is, it eventually goes away.
Waiting a year or two would not be the worst mistake you ever made, especially if you have super low rent and the landlord is a super sweet person.