Rent VS Buy: Which is RIGHT for You?

By
Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI
http://actvra.in/54Bm

 

Rent VS Buy:

Which is RIGHT for You? 

 

 

Rent VS Buy ... which is better?

Seems everyone has an opinion on this debate.  Pro and Con.  But truth is, no one but the person(s) considering this question has the "right" answer.  Or at least what's the "right" answer for them.

It's also true:  Facts, emotion, and gut feeling weigh into the making of the decision reached.  Or not so final ... as timing factors into this decision-making too.  The "right" answer can often be just a temporary one.

It's Easy to Start .. Contact Me!

So, with all the factors mentioned above playing into the decision-making process, just where and how do you start?  

The right answer to that question is: You should start by doing some simple homework.

To make that easier to do, I've provided some handy tools for you on my website. Just click HERE to find a host of calculators that will help during the early stages of your decision-making process.

After gathering some info ... and when you decide to move to the next step ... home buying... it's time to get erious.  During this next step, you need to ...

Evaluate Your Options
 
To accomplish this:  It's best to list the pros and cons of buying and renting as they pertain to your life and financial scenario.  
 
Keep in mind:  No two lists look the same, as everyone is considering and weighing their personal pros and cons. 
 
But the following infographic provides you some suggestions of those things you might want to consider while making your decision:
 
 
 
As you'll note:  

There's one glaring omission to the above infographic. There's no mention of personal finances.
 
 Do Some FACT-finding. Contact Me!
This important next step in your fact-finding needs to include me, your New Lenox- Chicagoland Loan Officer.  
 
After answering some questions, I'll be able to provide you an analysis of your credit/financial standing, a synopsis of the financing options available to you should you hope to buy, and the feasibility of your successfully securing the financing you need to do so.
 
Only after this important evaluation is concluded, can you seriously weigh "Rent VS Buy" and make the best decision for yourself.  The decision that will be "right" for you both in the short and long-term.
 
The "right" answer to your Rent VS Buy question is answered with your taking a series of steps and doing some fact-finding.  And yes, some soul-searching too.
 
The answer becomes clearer the more facts you have and the more you know about your finances, options, and desires.  Each step is fairly easy to take ... and I'll be there to help and guide you every step of the way.
 
To discover what's possible.  To answer your Rent VS Buy question, contact me today ...
 
            
 Contact Gene Mundt to Find Out More
 
 
* Hoping to buy or refinance a home in New Lenox or elsewhere in the Chicagoland area? Contact me! I'll put my 40+ years of Mortgage experience and expertise hard to work on your behalf.
I'm easily found at:

Gene Mundt
Mortgage Originator - nmls #216987 - IL Lic. 031.0006220 - WI Licensed
 
American Portfolio Mortgage Corp.

nmls #175656
 
Direct: 815.524.2280
Cell or Text: 708.921.6331
eFax: 815.524.2281
 Contact Gene Mundt for a FREE Quote
 
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Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                   IL Lic. #0006220  -  WI License                                                                                                     

NMLS #175656

 

Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 

 

Your Referrals & Testimonials are Always Greatly Appreciated! 

 

Email Me .. to be added to my Mortgage & Real Estate Newsletter

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Re-Blogged 5 times:

Re-Blogged By Re-Blogged At
  1. Wayne and Jean Marie Zuhl 04/20/2017 02:00 PM
  2. Roy Kelley 05/31/2017 01:00 AM
  3. Debbie Reynolds 04/30/2017 09:27 AM
  4. Gabe Sanders 05/03/2017 11:45 PM
  5. Bob Crane 05/02/2017 10:34 PM
Topic:
Home Buying
Location:
Illinois Will County New Lenox
Groups:
Mortgages
Home & Credit Savvy
1st Time Buyers
Chicagoland and Northern Illinois Real Estate
Bananatude
Tags:
mortgages
rent vs buy
financial analysis
mortgage questions borrowers should ask
financing to buy a home
finances and credit consultation

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Ambassador
1,104,246
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

As an investment specialist I love selling rental property but I also know that owner occupancy should be as high as possible. If someone has reserves and will take on the responsibility they should buy.

Apr 20, 2017 11:15 AM #1
Rainmaker
1,937,439
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Hi Gene... a great post making it simple for people to understand the rent vs buy exercise. Of course, with how rents have been skyrocketing in Charlotte, it amazes me more people don't start buying.

Apr 20, 2017 12:37 PM #2
Rainmaker
1,185,349
Wayne and Jean Marie Zuhl
Hallmark Realtors - Clark, NJ
The Last Names You'll Ever Need in Real Estate

This is a great post filled with lots of information that would-be first time home buyers need to know!

Apr 20, 2017 01:57 PM #3
Ambassador
2,454,414
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Gene - That's a very useful and thorough walk-through of the rent vs. buy decision making process and you have provided some excellent tools. With our rising prices and low inventory, it's a complicated and constantly changing calculation - having the help of a great lender like you to work through it is a great resource.

Apr 20, 2017 02:54 PM #4
Rainmaker
2,478,625
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

With ever increasing rents around the country....buying is a wise choice !

Apr 21, 2017 03:01 AM #5
Rainmaker
1,096,863
Jane Peters
Home Jane Realty - Los Angeles, CA
Connecting you to the L.A. real estate market

Yes, the perennial question of renting vs buying. Sometimes it just doesn't make sense to buy. But until you have evaluated your personal situation carefully you will never know the answer.

Apr 21, 2017 12:49 PM #6
Rainmaker
1,489,610
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi - What I love best about this article is the fact that the world needs a balance of owner owned homes and rentals. Your answer, pros and cons, and sage advice is very informative and definitely a keeper for something to think about!!!

Apr 22, 2017 07:58 AM #7
Rainmaker
4,068,275
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

This is excellent advice to share. I wll schedule a reblog for May 31.

Apr 26, 2017 03:48 AM #8
Rainmaker
1,078,178
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Thank you, Roy Kelley ... that is greatly appreciated.  Hope it proves beneficial to your readers ...

Gene

Apr 26, 2017 09:17 AM #9
Rainmaker
3,735,797
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Gene.  This is a difficult decision for many.  Hopefully your post will help some make a decision.

Apr 28, 2017 04:23 AM #10
Rainmaker
2,402,922
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I don't have any judgment of anyone whether they rent or buy. To each their own

Apr 28, 2017 11:48 PM #11
Ambassador
3,170,134
Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Many just have never sat down to see the benefits of buying or think they cannot buy. I would say buying isn't for everyone but more popel would buy if they knew how easy it was.

Apr 29, 2017 05:49 PM #12
Ambassador
2,926,686
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Very good post Gene, and certainly something for renters to dig into, I will be passing it along to others.

May 02, 2017 10:28 PM #13
Rainmaker
3,073,586
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi ,

I'm so glad Bob Crane re-blogged your post. Well done..its always best getting started and asking questions it will be the is key to you finding the right answer for you!

May 03, 2017 04:36 AM #14
Ambassador
3,214,968
Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Gene

This is a really good overview for those who are pondering whether to buy or continue renting. The question of which way to go often comes up with those who are relocating, too.

Jeff

May 03, 2017 08:05 AM #15
Rainmaker
375,665
Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

Great use of imagery, Gene. I really liked the article!

May 04, 2017 05:45 AM #16
Rainmaker
1,271,775
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning Gene - excellent discussion of renting or buying.  You have make a good decision tree for people to make the right decision.

May 20, 2017 03:45 AM #17
Rainmaker
534,924
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

You always write such lucid well thought out posts, that give the information people are looking for. Another stellar post as it is not pushing anything. 

May 24, 2017 01:07 PM #18
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Rainmaker
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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience
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