Renting vs. Buying In Topeka

Justin Armbruster
Published on June 16, 2020

Renting vs. Buying In Topeka

When can you buy a house in Topeka?

For most young adults, buying a house seems like something off in the distant future that won’t happen for awhile. The truth is, a lot people are able to buy a house much sooner than they realize. Especially here in Topeka! So what does it take to buy a house and how do you know that you’re ready? That’s what I’m going to walk you through today. 

Down Payment?

When you purchase a home, odds are you’ll have to take out a loan from a bank. When you do this you’ll have to provide them a down payment before you can close on the home. So how much do you need for a down payment? $10,000? 20% of the sale? It all depends on the situation but it’s not uncommon for people to buy a house with only a 3% down payment. You’ll have to pay some small closing costs as well but for a 100,000 dollar house you’re look at just over $3,000! That’s excluding any first-time homebuyer grant money you can apply for. We strongly encourage people to do this.

Credit Score?

In order to take out a loan to purchase a house you have to have some credit history built up, notice how I said some. When buying a house you do NOT need this extraordinary high credit score as some might believe. You can get a standard loan to buy a house with a mid 600 credit score. Some situations even allow lower. The myth that you need high 700s or even an 800 credit score couldn’t be farther from the truth. 


This is one of the most important things to consider before you purchase a home. Is your situation right? A couple things to consider

  • Are you going to be living in Topeka for the next 3-5 years?
  • Do you currently have a job? There are additional expenses that come with homeownership.
  • Are you willing to take on the maintenance involved with homeownership?

There are significant perks to owning your home versus renting, but are you ready? If so, lets make it happen. The first step of this process is a conversation. Do you have a question? Do you want to know more about this process? We have YOUR best interest at heart and we understand that maybe the situation isn’t right for you to buy right now, but let us give you our professional opinion. If the situation isn’t right we’ll tell you. Begging you to buy isn’t how we do business. Let us know how we can help you make real estate easy.

About the Author:

The above article Renting vs. Buying was written by Justin Armbruster of the Armbruster Team at Berkshire Hathaway HomeServices, local leaders in Topeka Real Estate, Marketing, and Social Media. You can contact the Armbruster Team at  (785) 260-4384 or through this form. They have helped hundreds of people buy and sell homes in the Topeka area for years, and would love the opportunity to help you as well.

Are you thinking about selling your home? They have a passion for listing and selling homes in Topeka and would love the chance to use their expertise in Real Estate, Marketing, and Social Media to help you sell or buy yours! Are you interested in buying a home? Give the Armbruster Team a call. They have helped people buy and sell real estate in the all of the following Topeka School Districts:

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