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There are so many questions
that arise from the current state of the housing market – should I
rent or buy? Should I refinance while the rates are low? What type
of financing should I get? If I can’t sell my house, what are my
other options? Our goal is to help make these questions easier to
answer, so that you can make the best decision for you and your
family. We will also show you how to save money around the house by
making small adjustments, like learning to do things yourself
instead of hiring help, or by applying proactive maintenance in
order to ward off expensive repair bills down the road.
Home
Rent Vs. Buy – Which is
Best for You?
There are many factors to
consider when deciding whether to rent (or continue renting) or buy
a home. Many websites offer rent/buy calculators to help you decide,
and we’ve listed some of them below – but there are some important
pros and cons to consider when making this life decision:
|
RENTING |
BUYING |
|
PRO
Maintenance Free
Freedom to Move at any Time
No Property Taxes |
CON
No Home Equity
No sense of ownership
Rent Increases are common |
PRO
Property Ownership
Home Equity
Mortgage rate stays the same
(depending on financing) |
CON
Self-Maintenance
Property taxes
Must sell home
(and pay taxes before moving) |
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