Pasadena California Real Estate Home Blog is pleased to welcome a guest writer from Ann Arbor, Michigan - Missy Caulk.
Should you buy or rent if you are moving to Pasadena or the surrounding cities in the San Gabriel Valley? We get asked that question frequently.
The answer is "it depends on your individual circumstance".
One of the first things to ask yourself is, How long will you be living in Pasadena?
In the past it definitely made more sense to buy a home, but now it really depends. If you are a Medical Resident working at the Huntington Memorial Hospital and will only be here 3-4 years, then perhaps renting is the best option. Do you have a dog, that needs space to run? All of those personal decisions should enter into your decision.
Here's a mortgage - rent vs. buy - calculator that you can play around with. Put in what it will cost you to rent, and along side of it put it the monthly mortgage payment. You can add in the interest rate you have been quoted, and the cost of selling the house in the year you plan to move.
Home prices have never been better in Pasadena, so if after doing the research you can begin your home search here, to see all the homes on the market throughout San Gabriel Valley. You'll be happy to see the houses with Google Satellite Images, Google maps and multiple photos.
You can also find rentals, listed through the Pasadena area and surrounding cities like South Pasadena, San Marino, Arcadia, Altadena, Alhambra, Sierra Madre, Monterey Hills and more.
Renting vs Buying is a personal decision, and it is always best to speak to qualified professionals about your financial decisions.
Thank you Missy!