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STRATEGIES OF HOUSING IN OREGON IS IT BETTER TO BUY OR TO RENT A HOME

Willamette Valley Real Estate is one of the best real estate agencies in Lebanon, Oregon. They provide a useful, concise, and safe transaction especially in this time of COVID-19. https://windermerewillamettevalley.com/oregons-real-estate-market-in-the-time-of

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STRATEGIES OF HOUSING IN OREGON IS IT BETTER TO BUY OR TO RENT A HOME

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  1. STRATEGIES OF HOUSING IN OREGON: IS IT BETTER TO BUY OR TO RENT A HOME?

  2. To buy or to rent, that is the question. It seems like a constant dilemma, to which the solution depends on several factors. One factor is related to how long you’re planning to stay in the new home. If you plan to move after a few years (up to five, for example), renting is a better option.  But, if you plan to settle down for good, then buying a home and making a lifetime investment will suit you better. Whether you’re looking for homes for sale in Lebanon, Oregon, or elsewhere around this lovely Pacific North-Western state, in this article we will try to provide you with clear information on affordable rental or ownership housing.

  3. Oregon Housing Struggles in the Times of Strong Migration

  4. After the recession in 2007-2008, Oregon recovered successfully and became one of the leading and fastest-growing economies in the US. This was due to the emergence of new high-paying jobs, as well as the new residents who came from across the whole country, looking for work and life in the mild climate surrounded by nature. Other than that, smaller towns and rural areas started to have their own housing struggles, related mostly to low-income households. Brokers in Lebanon, Oregon can testify to that as well. On the flipside of that coin, the main issue that big cities started to face was fast growth, followed by strains on infrastructure, including freeways, public transportation, and schools.

  5. The Most Recent Trends in Oregon’s Housing Market

  6. The latest trends in the real estate market around the state showed how various and unexpected variables can influence the changes in housing costs. The outreach of the COVID-19 pandemic is the most obvious one. What happened in 2020 is that the homes in Oregon became even more valuable than they used to be.  Undoubtedly, this is especially true for the Portland area, however, the same does go for the suburbs, which experienced expansion, thus attracting those who are looking for more living and yard space. Lebanon, Oregon real estate market is just one of the examples for this statement. Due to the social distancing measures, people across the US have started rethinking their living habits and searching for homes outside big cities.

  7. Perks and Flaws of Renting vs Buying Home

  8. The average sale price per square foot in Portland is around $300, while the same price for the suburban square foot is around $200. The average house for sale in Lebanon, Oregon sale price per square foot is $215, which makes it among the most affordable in the state. Owning a home can be a long-term investment. By buying a home, you build up capital that can be recaptured once you sell it, depending on the real estate market conditions. Since the housing market in Oregon has been blooming for the past few decades, this kind of capital can be quite profitable, especially right now.

  9. Before you consider buying a house or an apartment, try to think about what kind of mortgage you will apply for, as well as how much of a down payment can you afford. Additional worries you may face are related to the potential mortgage insurance and real estate taxes around the area in which you are looking for property.  If buying is not your option, renting is always a possibility. Do not hesitate to search for real estate agencies in Lebanon, Salem, Portland, or elsewhere around the state to help you get through this process more efficiently, and to find a solid, healthy place to live.

  10. windermerewillamettevalley.com Lebanon 744 S Main StLebanon, OR 97355Office: (541) 405-4944

  11. windermerewillamettevalley.com Lebanon 744 S Main StLebanon, OR 97355Office: (541) 405-4944

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