As a Real Estate Agent, I get a lot of questions from potential home buyers every day.
The one I get a lot is “Should I buy a home now or should I stay renting?”
Both have their advantages and disadvantages. You need to decide what is best for you, not what your friends or the local media are telling you to do.
One of the advantages to renting is that you usually are not responsible for most of the maintenance. All you have to do is call the landlord.
For some people who have no inclination to learn how to fix the small things, renting may be the best option for them.
However from a financial standpoint, when you rent you don’t build equity for your future. You won’t be able to take advantage of the tax benefits and you are not protected from rental increases.
You also will not be free to make any changes in your rental property without clearing it first with the landlord.
Owning a home gives you some advantages that may outweigh those of renting. Every time you make a mortgage payment you are building equity and getting a return on your investment. You can also qualify for tax breaks that will actually lower your out of pocket costs.
When you buy a home you usually have more room for a growing family than you would in a small apartment.
You can pick the colors you want and go crazy decorating.
You don’t have to worry so much about making noise because your neighbor won’t be on the other side of the wall. You might even have a garage to keep your car protected from the elements.
Yes, you may have to fix a few things, but just think about the freedom, and security of owning your own home.
It may just be worth it.
Make a list of the pros and cons and I’m sure you will make the decision that is right for you.
REALTOR®, PA, GRI, ASP, REOS, CDPE
Call me today at
This presentation contains images that were used under a Creative Commons License. Click here to see the full list of images and attributions: