Why Rent When You Can Buy
Right now it is a buyer’s market. If you are renting and have considered purchasing your own home, now is a great time to start looking.
There is much to consider when deciding whether you should continue to rent or whether you should buy. Each has advantages and disadvantages. Renting can provide hassle-free maintenance and the ability to pick up an move with proper notice. Whereas, home ownership comes with the responsibility of home maintenance and the need to go through the home selling process if a move is necessary. Renting, however, does not gain you equity or allow you to enjoy any of the tax advantages of home ownership. Owning a home also allows you to personalize your home more than you could as a renter.
You should consider the financial impact of paying rent and the costs associated with renting versus paying a mortgage and the costs associated with owning a home. There are several calculators that can assist you. Calculators can be found here and here.
If you are interested in learning more about owning a home, please contact our office.
Tags: Buyer Information, calculator