I'm Thinking Of Renting, Why Should I Buy Instead Of Renting A Home

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Real Estate Agent with Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Huntsville AL

I'm Of Thinking Renting, Why Should I Buy Instead Of Renting A Home

I'm Thinking Renting, Why Should I Buy Instead Of Renting A HomeWith the advantages that a buyer has in today's market it just doesn't make sense in my opinion to rent.  You can actually buy a home now in most instances for less monthly payments than renting.  Of course if you are in a job with a high potential for moving or relocation then renting may be a good option for you.

Renters have the option generally of not being tied to a home and can move relatively quick.  Home or yard maintenance usually is not an issue, however, renters don't always have the option of decorating as they wish, everything must be cleared through the property management or rental office...there is no sense of permanence and there are no tax advantages.

Homeowners on the other hand own their home and can do with it as they like within the covenants and restrictions of a governing homeowners association if one exists for the subdivision or community.  Homeowners also have tax advantages that are not extended to renters.  Real estate or property taxes and mortgage interest are all tax deductible.  Home ownership is not without cost, however, as there are regular maintenance, repair, taxes, association fees and future remodeling or renovation costs to consider.

Perhaps this is over simplified as there are many things to consider and a good real estate agent or lender can help you crunch the numbers to see if renting or buying makes more sense regarding your lifestyle.

Anyway you look at it the home you live in is going to get paid off...would you rather pay off someone else's home for them or your own?

 

Nick T Pappas

 

If you need a knowledgeable real estate professional in Madison or Huntsville Alabama area, why don't you let me Google that for you! I also know outstanding agents in all states and Canada should you need help relocating to a new area.

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Rainer
104,889
Jason Stewart
Stewart Estates - San Diego, CA
Realtor

Good post Nick..and good points too....!...Have a great year!

Jun 09, 2012 10:07 AM #1
Rainmaker
1,078,145
Gary Frimann, CRS, GRI
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

Why buy instead of rent?  Well, for starters, at the end of 30 years you will have a place to live, free and clear, rather than a box full of rental receipts!

Jun 09, 2012 10:13 AM #2
Rainer
106,047
Jessica Holtzman
Keller Williams Realty, Inc. - Moorestown, NJ
Real Estate Agent in Southern New Jersey, CDPE

Great post... Thanks so much for all the good points!

Jun 09, 2012 10:29 AM #3
Rainmaker
427,033
June Tassillo
Owner/Broker RE/MAX Elite Realty - Franklin, NC
Let me help you with the next phase of your life!

Nick ~ They say if you have kids they do better in general with a home they can call their own.  They feel more stable.  Like most people if I knew I was not moving anywhere within five years why rent?  Just throwing money away and paying someone else's mortgage. 

Jun 09, 2012 11:18 AM #4
Rainmaker
1,012,218
Gloria Todor
Century 21 Absolute Realty - Springfield, PA
& Doug Durren (484) 431-3686 in SE PA

Hi Nick, Good post.  And not to mention that interest rates are historically low!

Gloria

Jun 15, 2012 12:30 PM #5
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Rainmaker
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Nick T Pappas

Madison & Huntsville Alabama Real Estate Resource
Call or email me anytime with your questions.
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