To Rent or Buy?

If you are coming to Ann Arbor you probably are thinking if you should rent or buy. If you are unsure of how long you are going to be in Ann Arbor, you may want to rent for a little while and get a feel for the lay of the land. If you only plan on staying for a couple of years buying can be risky. However if you plan on staying 5 or more years the odds start to be in your favor a little more. With the $8,000 tax credit for first time buyers, low interest rates and the recent market adjustment (prices have come down) it could be a great time to buy.

If you are thinking about renting, you probably want to check out craigslist.org to see what is available. You can also try apartmentguide.com for apartment complexes.

If you decide buying in Ann Arbor might be the way to go one of the first things you want to do is find a Realtor. As a buyer there is no additional cost to have an agent represent you.* Your Realtor can help you narrow your search, show you around town and get you started. You might even get a free lunch : ) Your Realtor will also be able to help you get in touch with a local lender, home inspectors and other local resources.

So how do you find a Realtor? Well there are plenty of us. I think Ann Arbor has about 900. You want someone who is full time and does not just do real estate as a hobby. You also want someone who is busy, but not too busy to carve out a few days to show you homes and even preview some so that you don't waste time on houses that are obviously not a good fit. If you know people in Ann Arbor ask them if they have any recommendations. You may also want to call a few and make sure they are a good fit with what you are looking for. Of course I have to encourage you to look at my site (nicklacyhomes.com) or give me a call (734-709-7643), but I know that I cannot be all things to all people. I'd also be happy to mail you a relocation package if you send me your address. The relo package includes a city guide, menus, maps and much more.




*Some brokers in the area are charging a broker transaction fee of anywhere from $149 to $295 so you might want ask if your Realtor does. My company, Edward Surovell Realtors does not charge this fee.