To buy or to rent that is the question. - KOTA Territory News

To buy or to rent that is the question.


With the housing market bouncing back, many Americans looking for new homes are left with the question, should I rent or should I buy?

The number of Americans who signed contracts to buy homes rose in march to the highest level in three years.

The same is true in Rapid City, But that doesn't necessarily mean everyone needs to buy.

Terry Mills, Education and Community outreach manager with consumer credit counseling says "The question whether to rent or to buy is how long you are going to be there. When you start doing the math its about 5 years. When the lines cross versus renting versus buying. So if you are going to be there more than 5 years owning a home is probably the best way to go. But if you are going to be less than 5, renting is the best way."

The consumer credit counseling service offers classes for new home buyers.

For more information go to their website at .

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518 St. Joseph St.
Rapid City, SD 57701

Telephone: 605.342.2000
Fax: 605.342.7305

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