Relocated Residents in Maryland Prefer Renting Over Buying, Experts Say

More relocated residents in Maryland are now opting for rental properties, as per the industry insights released by Dependable Homebuyers. The We Buy Houses company highlights how there is now a generational change and a new perception about housing has influenced a major shift in preference. Young professionals and families are choosing to rent for different reasons. This is directly affecting the prospects of homeowners looking to sell their properties.

Maryland has witnessed a sharp growth of jobs in the last year. Baltimore in particular has added thousands of new jobs in major industries. This has brought many people from around the state and beyond. These new residents have relocated to the city and the suburbs but are settling for properties on rent. The rental market has responded positively. Developers dealing in rental properties are coming up with enticing propositions for residents. There are contemporary developments with amenities that people get in cities but in calm suburban settings. The result is a fine combination of comfort and convenience. Those renting do not have to spend a fortune as down payment, they do not have to endure the increasing rates of interest and they can get the same comforts of owning a property while paying a substantially smaller amount every month.

There has been an ongoing debate about the advantages of renting versus owning. The younger generations are now choosing travel, leisurely indulgences and other activities they cherish over tying their finances down to mortgage. This has also lead to the cultural shift and many relocated residents do not even contemplate owning, now or in the near term. Homeowners who want to sell are being compelled to deal with a buyers market. There are fewer buyers now and this makes it imperative for sellers to reduce ask prices. There is little scope for much to change in the preference of relocated residents, especially when rental property developers are delivering what they need.

The We Buy Houses company based in Baltimore, Maryland, provides an alternative to sellers. Instead of listing properties online and appointing real estate agents, homeowners can now directly contact Dependable Homebuyers and get an upfront offer. The investment company is not looking for buyers in the market so the various pressing factors are not relevant. Evan Roberts and his team at Dependable Homebuyers can carry out inspections promptly and put forth purchase offers in a day or two. Homeowners can sell their houses in a week if they want.

Dependable Homebuyers is also interested in buying properties that currently have tenants. This is regardless of location and the condition of the property. The company is not only buying houses but also apartment buildings. The real estate market is poised for slow growth and at a time when buyers want reduced ask prices to compensate for higher interest rates along with relocated residents preferring renting over owning. The pressing factors are not in favor of homeowners trying to sell. Cash investors like Dependable Homebuyers are a pragmatic option for sellers. Interested homeowners can read a recent press release they published at https://docs.google.com/document/d/18cUhULSv-ZFI8IdRX-OxIy0HDCrl8cJsEPN6QYA_wrI/preview.

SOURCE: Press Advantage [Link]