Buying a Home vs Renting a Home (Barber Shop Brawl)

By
Real Estate Agent with PalmerHouse Properties

 

Buying a Home vs Renting a Home (Barber Shop Brawl)

In real estate; "should you buy a home or rent a home?" is an age old question that normally sparks debate to even the most uncontroversial of us. 

I took my son to his regular barber in Pembroke Pines yesterday to get his usual "fade". As I sat in my usual spot in the corner by the window; engrossed in a novel; I suddenly realized that a group of men were heatedly debating whether it was better to rent or buy a home.

Barber Shop Sign

At first I ignored them or tried to because loud talking or informal debates were the "norm" every time we paid a visit to the barber shop. However; this time it was different; they were actually discussing real estate; something I could not only relate to, but offer free expert advice.

As I listened and tried to make sense of what was being said it almost seemed CoMicAL; as there appeared to be no rhyme or reason to the informal debate that had ignited the booming chaos that the men had created. There had to have been about a dozen of them.

Clowns

Speaking LOUDLY and out of turn; it was obvious that they were passionate about real estate or at least whether it was better to buy or rent a home. I sat anxiously twisting and turning in my chair with my own personal debate; "should I add my two-cents or just continue to enjoy the debate in silence." Realizing that I wasn't going to get a word in edgewise without screaming to the top of my lungs; I chose the latter since jumping in would've only added to the chaos.

Consequently; it seemed that some of the guys thought buying a home was better than renting because you would eventually own it. One guy figured that he doesn't want all of the headache that comes with owning a home so he would rather rent a home and buy a new car. His theory was that life is short so why invest in real estate; you won't be able to take the home with you when you die.

Florida Townhomes

Weird theory I know but his opinion is his opinion. Or is it? Maybe it's just a bad case of misinformation. Below are just a few reasons why buying a home in Pembroke Pines Florida, or anywhere else for that matter is better than renting a home:                                              

*tax breaks (gotta LOVE those)

*home equity (you can borrow against this)

*you have more flexibility in regard to cosmetic decisions 

                        *you can rent it out and build an investment portfolio 

                        *build your investment portfolio for a solid retirement plan

                        *you have a solid investment to pass onto your kids or loved ones

 

For Homes in Cooper City, Coral Springs, Davie, Tamarac, Plantation & Sunrise Florida or Condos on Miami & Fort Lauderdale Beach; http://www.floridamoves.com/default.aspx?abrand=83260&agent=83260

                     

                                                                                   

 

 

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Rainmaker
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Leslie Prest
Leslie Prest, Prest Realty, Sales and Rentals in Payson, AZ - Payson, AZ
Owner, Assoc. Broker, Prest Realty, Payson,

There are many people in this country who just don't want to buy. They don't want to be tied down and resposible. It isn't right or wrong, its just a choice. Many people move around too much to buy and then have to sell.

Jan 25, 2011 06:08 AM #1
Rainmaker
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Adell Forbes (REALTOR®)
PalmerHouse Properties - Atlanta, GA
"Knowledge & Experience Working for You"

Hello Leslie- Thank you for your response.

You're absolutely correct. I think the main issue here was responsibility; or lack of it. Having a mortgage & buying a home is a great deal of responsibility; however; I think it's an awesome investment regardless.

Jan 26, 2011 09:27 AM #2
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Rainmaker
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Adell Forbes (REALTOR®)

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