Renting Versus Buying: Determining the Best Path Forward

Yonatan (Yoni) Schmidt is the Regional Vice President of Sales and Marketing at Keyrenter Property Management, which has offices in Tulsa, Oklahoma City, and Arkansas. After working as a financial analyst at a private equity firm, he founded Tulsa Property Lad to offer clients a better way to buy, sell, manage, and invest in real estate. Yoni provides comprehensive Oklahoma real estate services and listings, supported by first-class customer service. In this episode… When browsing the real estate market, one of the first factors people consider is whether they should rent or buy. This decision often depends on the individual’s short- and long-term goals and credit and employment history. How can you evaluate the renting and buying requirements to make an informed decision? According to real estate veteran Yoni Schmidt, if you lack credit, you may want to consider renting initially and develop goals to purchase a home in the future. To establish or rebuild credit, maintain smaller balances on your credit cards and avoid making large purchases to mitigate debt. Additionally, the rental market emphasizes consistent working hours, so verify any gaps in employment history and compile your tax returns before renting. When you’re ready to purchase your first home, Yoni recommends buying down your interest rate to reduce monthly payments. First-time homebuyers are often incentivized to purchase properties from builders with a price reduction of up to $40,000. In this special episode of The Same Day Podcast, mortgage lender Alfredo Madrid interviews Yonatan (Yoni) Schmidt, the Regional Vice President of Sales and Marketing at Keyrenter Property Management, about the details of buying and renting homes. Yoni explains the importance of a budget for first-time homebuyers, how his upbringing led to a career in real estate, and how real estate prices and interest rates have fluctuated.