Owning A Home Can Set You Free!

Build Wealth, and Live In A Place You Can Truly Call "Home".

 

To Buy Or To Rent?

That Is The Question...

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So you are thinking about renting or buying and can’t decide which direction to go? Don’t worry, many of us have been there, and done that. Bottom line is that buying, if you can get approved to do so, is almost always the better option to go with. There are many benefits to owning your home vs renting it.

Renting Vs Buying

Benefits Of Buying

  • Each Payment Builds Equity
  • You Own It & Can Do What You Want
  • Borrow Against The Equity If You Need It
  • You Are Your Own Landlord
  • Have Pets? No Problem!
  • Better Privacy
  • More/Better House For Your Money
  • A Place That Truly Feels Like “Home”
  • Improvements Can Make You Money
  • Builds Your Credit Score

Down Sides Of Renting

  • Each Payment Goes To Your Landlords Pockets & Not Yours
  • Privacy Is Much Less Common
  • Got Pets? Get Ready To Pay A Pet Fee
  • Less Home For Your Money
  • Routine Inspections With Little Or No Notice
  • You Don’t Own It So You Can’t Modify Anything To Your Taste
  • Better Have Enough Money For a Security Deposit
  • No Opportunity To Build Wealth Due To “Throwing Money Away” On Rent
  • Most Of The Time You Are Locked In For 6 Months To 1 Year Lease Minimum
  • Rent Will Normally Be Higher Than The Cost Of A Mortgage Payment 

Depending on your situation renting might still be the better option for you. Such as if you are relocating here and you want to get a feel for the area before making the commitment to buy a home. However, you will always have the option to sell your house should you choose not to stay, and you may even make some money along the way instead of losing it to rent. Renting has a few perks such as if something breaks, typically the landlord will fix it, sometimes your yard will be maintained by someone, or there may be common areas such as a pool, workout facility, etc…however the benefits of buying definitely outweigh them.

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