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 Lic

 

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 1 time:

Re-Blogged By Re-Blogged At
  1. Wayne and Jean Marie Zuhl 04/20/2017 02:00 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
924,869
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
1,683,001
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
1,124,580
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
2,294,543
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
2,324,452
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
1,082,810
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
1,356,332
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
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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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