The Columbus Ohio Real Estate Market: Buy or Rent?
If you have been paying attention recently, you have probably noticed all of the new commercial buildings and apartment complexes going up! Columbus, Ohio is booming more than ever and it’s never been a more exciting time in this town! Many people have talked about the market reaching it’s peak, but with Bitcoin being all of the craze, people have stopped talking about it.
It seems like all of the attention is on businesses and apartments, but there are still residential areas being developed more than ever and it areas like Dublin, Lewis Center, Granville and New Albany are developing housing complexes to meet the demand of those moving out of the city to start families. So what’s next for Columbus? We don’t see that market crash coming quite yet, but if it does, the apartment complex bubble may be the first to bust!
If you are searching for an apartment in the city, you have probably realized by now that you will need to sell your leg and maybe your first born to afford rent, especially if you are wanting to live by yourself. So why would anyone rent as opposed to buying? Well that depends on who you ask. For some, like myself, the freedom of renting far outweighs the cost of a 30-year mortgage. For some, they say “why would you put equity into the trash can by renting?” While that certainly sounds good on paper, those fans of “owning a home” forgot about the time their basement flooded and they were forced to write a $2,000 check to Ever Dry. They probably also forgot about the time the hot water tank exploded and had to be replaced within days.
The point here isn’t to sway you into one direction or the other when it comes to buying a home. The point is that you have to do whats best for you and your situation. If you have a family, a 1100 square foot apartment in the city probably won’t cut it! If your kids just left for college, maybe you don’t need that 3,000 sq foot home!
If you ever find yourself in a situation where you need to sell your home fast, for cash in Columbus, we would love to help! Our team has multiple solutions to find the best way to buy or sell your property in Columbus or Central Ohio.