RENT vs BUYING.... Advantages and Disadvantages of Buying ( Part 2)

Real Estate Sales Representative with ERA Sunrise Realty 302749 GAR Broker

Can you AFFORD to be a homeowner?  This was the topic yesterday in Part 1 .

Part of determining what you can Afford  is getting a clear picture of what you are about to dive into!

Facts are facts.  While they may vary from one area to another, what applies in Augusta Martinez GA will also apply in Chicago IL, with a little variation!

Let's take a good look at the facts.  

What ARE the Advanges and Disadvantages to Home Ownership?

Money chartHappy Home Owners

Some Obvious Advantages are ..... (not all apply to all people, remember, we are all different)

1. Tax Shelter advantages

2Investment funds leveraging.  Example:  Invest 5% down . So, the homeowner only has 5% investment but they get to keep the appreciation on 100% of the value.

3. Forced Savings Plan.  Even though it may be slow going, it is more savings that some would ever put away given the freedom to do so.

4. Allows Flexibility in personal tastes. You want to paint the living room highlighter Green--Go right ahead!

5.  Pride in Ownership.

Shaggy Shackmaintain your home

Home Ownership, unfortunately, has its DisAdvantages too.....

1. While you may be able to leverage your money by only sinking 5% into the home, THAT also means that you have aquired 95% of the purchase price in DEBT .

2. Future Home Values  are Unpredictable.  Nothing has proven that to us than the last two years!

3. Maintaining your new Investment is paramount.  When the ceiling is wet after that big rain storm. It really doesnt matter what is in your bank account.  You MUST , somehow, Repair that roof! 

4. Costs of purchasing a home go beyond downpayment.  There are closing costs, inspection costs, bank and attorney fees, Realtor fees .....etc.

5. Permant Home place.  If you want to move in 6 months you have to figure out what to do with the home.  You cant just "cancel the lease".  So, it is less flexible in that manner.


Careful consideration and evaluation of the prospective Home Buyer's finances and lifestyle in an honest and forthright manner will allow the Home Buyer to discern whether he can Afford to Buy or Not.

As a Realtor it is part of my job to make sure my clients have ALL the facts.  Obviously I cant make decisions for them, but I can, at least, make sure they have as many facts as possible so that THEY can make an Informed decision.

Home Ownership can be one of the most rewarding accomplishments of our lives ..... at the right time!

Later this week.....  Part 3.   AFter looking at affordability and Advantages and Disadvantages of Buying a Home today,  Part 3 will cover Advantages and Disadvantages of RENTING.


Re-Blogged 3 times:

Re-Blogged By Re-Blogged At
  1. Charles Stallions Property Manager 01/26/2013 09:41 AM
  2. Charles Stallions Real Estate Services 03/30/2013 08:11 AM
  3. Charles Stallions 06/22/2017 06:34 AM
Home Buying
Georgia Columbia County
RE/MAX Active Rain Bloggers
Almost Anything Goes
Local Expert
Club Chaos
closing costs
down payment
buy a home
buying home
evans ga
martinez ga

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Maria Vaill

Martinez GA, Evans GA, Grovetown GA, Fort Gordon G
Ask me a question
Spam prevention

Additional Information