Where Renting vs. Buying Makes $$ Sense
Depending on your personal financial situation AND where you want to live – renting vs. owning may be the debate going on in your head… What “we” know and understand is that there are MANY FACTORS that play into the ultimate Best Decision for YOU – but hope that this will help offer additional considerations:
- If your credit is bad or not as good as a Lender would like for you to Purchase – You May Need to Rent
- If you are NEW to a JOB or AREA and not sure of your direction or ability to show “stability” for a lender – You May Need to Rent
- If the cost to PURCHASE is MORE than you have saved – and the monthly cost is HIGHER than you want to AFFORD – You May Need to Rent
- If you have a busy life, too many demands with work, etc and don’t want to worry about maintenance issues – You May Need to Rent
- If you are going to be short-term, typically less than 2-3 years in an area – You May Need to Rent
BUT – sometimes the cost of RENTING is HIGHER than OWNING – and then, if the above factors are not working against you – YOU WILL WANT TO BUY!
This article also offers more insight: http://realtormag.realtor.org/daily-news/2016/12/16/where-it-s-better-buy-rent
HAPPY HUNTING – WHETHER you are Buying or Renting…R H 2 L is here to help!