Real Estate Insider Blog

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13
Apr
2017

IS NOW A GOOD TIME TO RENT IN THE DUNEDIN AREA?

 

People often ask if now is a good time to buy a home. No one ever asks when a good time to rent is, however please understand that today is definitely NOT a good time to rent.

The Census Bureau recently released their third quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

The Clearwater area, and especially Dunedin, is experiencing a crazy market right now with a real shortage of available rentals causing prices to rise sharply. Further, what Mr. Kokolakis is doing to develop the Downtown area, will cause rents to rise on average $300 by next year in Dunedin and property values of course have already followed suit (see rentcafe.com). 

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with the decision of whether you should renew your lease or not, you might be pleasantly surprised at your ability to buy a home of your own instead.


Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, meet with a local real estate professional who can help determine if you are able to today!

If you could use a good REALTOR® that lives and specializes in the Clearwater/Dunedin area, give Christopher Milson a call at (727) 207-6300 or email him at chris@chrismilson.com

 

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