 |
Buying or renting in Columbus Ohio
- Real Estate Relocation
Many potential home owners hesitate about entering the Columbus Ohio real estate market because they feel that “owning costs too much.” But the fact is that after you consider income tax deductions, personal freedom, rent increases, and the accumulation of wealth through growing home equity, renters actually not only pay more, they also stand to lose tens of thousands of dollars of net worth.
Tax Deduction
As someone owning real estate in Columbus Ohio, you will be able to deduct most of your monthly mortgage interest payments from your taxable income. As a result, your actual out-of-pocket home costs will run – depending on your combined federal, state and local income tax rates - 20 to 40 percent less than the amount of the check you write each month for your mortgage payment.
Freedom to make where you live your “home”
If you decide to rent a home in Columbus Ohio, you are living in someone else’s property. Any improvement, decoration, change has to be approved by the landlord. Some landlords here in Columbus Ohio are great to rent from – others may not be such diligent landlords! You are not free to express yourself and make the place your own if you decide to rent a home in Columbus Ohio. Homeownership gives you the freedom to do what you want with your home – whether it’s purple walls, beautiful wallpaper or a hand laid brick patio for your enjoyment!
Rents will go up
Sometimes, even after allowing for tax benefits, the monthly costs of owning may still look higher than renting. But that is a short term view. Today’s rent and mortgage payments are 10 to 20 times higher than they were 30 years ago. Back in the late 50’s you could rent or buy an average home for between $25 to $150 a month. Those wise buyers who locked in their housing payment 30 years ago avoided all the increases over the years that their renting contemporaries had to endure. Similarly, locking in your housing payment today will insure insulation from future cost-of-living increases that will affect the rental market over the next 10 to 20 years. In the year 2020, today’s rent and mortgage prices will seem ridiculously low! The difference will be that you will still be paying those ridiculously low housing payments if you choose to buy a home from one of the many houses for sale in Columbus Ohio!
Equity Build Up
Over the last 200 years, home prices in across the country have appreciated rapidly, at other times depreciated. But on the whole, homeowners have always built more wealth than renters. Even if your home doesn’t appreciate (a highly unlikely event), at the end of your mortgage term, you will own a valuable asset free and clear. You’ll own nothing if you continue to rent during that time. But if your home does appreciate, your equity will be worth much more than you have paid for it, even factoring in interest payments.
When is it a good time to rent?
If you are only going to be in Columbus Ohio for a short amount of time you may want to consider renting rather than buying. Normally you have to own a home for a couple of years to realize enough profit from appreciation to pay for selling expenses. Talk to your Columbus New Quest City agent to see how long you would have to own a home to be able to break even when you sell.
Chose a real estate agent with experience to help you!
Many buyers start their Columbus Ohio home search randomly. They see a home listed on a Columbus Real Estate site and in their initial excitement call the listing agent. Firstly, that agent is already working for the seller and cannot represent the buyer’s best interests. You need a Columbus Real Estate agent with a proven track record of not just sales, but of helping buyers. This is especially true if you are interested in Foreclosures in Columbus Ohio. Columbus Real Estate agents referred by New Quest City have experience in helping buyers relocating to Columbus OH buy a home for the right price!
So to find out if buying a home in Columbus Ohio is an option, request your FREE “Relocation to Columbus Ohio” relocation package (click on link above). Then, a top Columbus Real Estate agent will contact you and send you information on homes in Columbus Ohio.
Topics on this site include: Columbus homes, Columbus new homes, Columbus real estate and Columbus newspaper including homes Columbus real estate, Columbus OH real estate and check Columbus MLS homes for sale and houses for sale, find realtors and real estate agents, get new houses plus Columbus new homes and homebuilders, find Columbus foreclosures, Columbus houses for sale, condominiums and Columbus Condos, and Columbus OH newspaper reports, lofts and Columbus lofts homes, look for apartments townhomes townhouses, search jobs and help wanted, movies, bars, restaurants and events, Columbus luxury homes.
Columbus is the capital of the U.S. state of Ohio. Founded in 1812 at the confluence of the Scioto and Olentangy rivers, it assumed the functions of state capital in 1816. According to the 2000 census, Columbus has a population of 711,470 residents, making it the largest city in Ohio and the 15th largest in the United States. The population increased to an estimated 730,657 in 2005[1]. The greater Columbus metropolitan area has a population of 1,708,625 as of 2005[2], ranking it third in Ohio (behind Cleveland and Cincinnati) and 31st in the United States. With regard to the Combined Statistical Area (which includes Chillicothe and Marion), Columbus ranks 24th in the country with approximately 1.84 million residents. -- Source: Wikipedia.com
AskMe a Question About Columbus, Ohio
To ask a question or make a comment about Columbus, Ohio Click Here.
Census Data for Columbus, Ohio
| Columbus | Ohio | United States | |
| Population | 711,470 | 11,353,140 | 281,421,906 |
| Median age | 30.6 | 36.2 | 35.3 |
| Median age for Male | 29.8 | 34.9 | 34 |
| Median age for Female | 31.6 | 37.5 | 36.5 |
| Households | 301,534 | 4,445,773 | 105,480,101 |
| Household population | 693,811 | 11,054,019 | 273,643,273 |
| Average household size | 2.3 | 2.49 | 2.59 |
| Families | 165,380 | 2,993,023 | 71,787,347 |
| Average family size | 3.01 | 3.04 | 3.14 |
| Housing units | 327,175 | 4,783,051 | 115,904,641 |
| Occupied units | 301,534 | 4,445,773 | 105,480,101 |
| Vacant units | 25,641 | 337,278 | 10,424,540 |
Visit US Census
Visit Wikipedia.com.
Local Weather |
Stock Market |
|
Weather Forecasts | Weather Maps | Weather Radar |
 NASDAQ  |
News
Cities
Other Area Cities: Lincoln Village Columbus Bexley Hilliard Westerville Gahanna Grandview Heights Grove City Huber Ridge Marble Cliff Upper Arlington Whitehall Reynoldsburg Worthington
Other Popular Ohio Cities: Cincinnati Columbus Dayton Lima Marysville Toledo Youngstown
Go to the NewQuestCity.com Home Page
|
Buyers USA Buyers USA Relocation Chronic Pain Film Composer HomeBuyersUSA NLP USA QuestClassifieds Realty Directory RePagesOnline The Integral Center Transformation Solutions Infignos |