How may times have you heard these phrases:
"I'm tired of throwing money away on all the expenses associated
with being a homeowner." 

--- or ---
"If you're renting, you're throwing money away."  

Our society holds a pervasive myth that rent is "throwaway" money. But the truth, however, could also be linked to being a homeowner. In both cases, you're exchanging money for a desired good or service. The question, then, becomes: Which do you desire more? Would you be happier buying or renting? And, which one makes more sense at any given point in time?

Let's take a look at some of the factors that should play into your decision:

Advantages of Renting: 

#1 - Mobility. As a renter you have the flexibility and freedom to move to any new locate whenever you would like.

#2 - Price flexibility. As a renter you have the flexibility to change the price that you pay for housing depending on where you want to live.

#3 - Lower costs. In many areas, the cost of renting is actually cheaper than the cost of owning a home. 

Advantages of Owning:

#1 - Potential Appreciation. Many homeowners point to the rising value of their home to defend their decision to purchase a property.

#2 - Inflation Protection. If you're a homeowner with a fixed-rate mortgage, you can rest assured knowing that your monthly payments will never change, regardless of what happens with interest rates and inflation in the future. 

#3 - Emotional Satisfaction. Here's one of the biggest benefits to homeownership: You'll enjoy a home that's purely yours. 

Here is a diagram that can better help you decide 

if you can afford to buy vs. rent:

 

So, make the choice that best fits your priorities and personality. 

If you are considering a home purchase (or know of someone who is) now is a great time! 

Give us a call to see how we can help you.

We're here to Help You Make the Right Move!