Renting or Buying in Sarasota Florida

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Real Estate Agent with PalmerHouse Properties Florida - 941-882-0322 | Serving Sarasota, Manatee & Charlotte Counties

Renting or Buying in Sarasota Florida… Either Way You’re Paying a Mortgage

Renting or Buying… Either Way You’re Paying a Mortgage | MyKCM
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage - either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained this month in their article, “12 Practical Steps to Getting Rich”:
While renting on a temporary basis isn't terrible, you should most certainly own the roof over your head if you're serious about your finances. It won't make you rich overnight, but by renting, you're paying someone else's mortgage. In effect, you're making someone else rich.”
Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:
“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”
As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person with that equity. Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.23% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.

Considering Buying? Wondering if You Qualify for a Loan?

Please understand that not all mortgage lenders are created equal. We can help you when it comes to choosing a good mortgage lender on Sarasota’s Suncoast. If you’re curious about buying, call Julie Larson at 941-882-0322 or complete the form below…
~Keeping Current Matters
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Topic:
Home Buying
Location:
Florida Sarasota County Sarasota
Groups:
All Things Florida
Sarasota County Active Rainers
Anything Southwest Florida Area
Sarasota County real estate
Tags:
renting vs buying
buying vs renting
buying a home in sarasota
for sale sarasota
julie larson realtor
buying in sarasota

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Rainmaker
565,313
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

Not only is buying a wiser financial decision, there are ways for buyers to get into a home for almost free and then avoid making monthly payments! I've seen many first-time buyers purchase a duplex where they can live in one side and rent out the other. The latest case I found was a student that actually made a little extra each month which he set aside for repairs. 

Mar 27, 2017 05:04 AM #1
Rainmaker
3,298,385
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Julie. While it pays to purchase if you are somewhere long term, it may pay to rent if you are a short termer! Enjoy your day!

Mar 27, 2017 05:07 AM #2
Rainmaker
780,769
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Nathan Gesner  had some good suggestions and yes there are plenty of plans for first time buyers to get help and there is almost no need to pay someone else's mortgage for them. I have had young people ask about rentals and think they cannot get a mortgage because of student loans who are now homeowners.

Mar 27, 2017 05:09 AM #3
Rainmaker
144,356
Julie Larson Realtor® Sarasota FL 941-882-0322
PalmerHouse Properties Florida - 941-882-0322 | Serving Sarasota, Manatee & Charlotte Counties - Sarasota, FL
When you're thinking of moving...ThinkSuncoast.com

Yes, I agree with Nick & Trudy Vandekar, that's a great option, Nathan Gesner!!!

Yes, Wayne Martin, there are occasions to rent. 

Mar 27, 2017 05:31 AM #4
Ambassador
1,924,955
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Julie Larson Realtor® Sarasota FL 941-882-0322  You hit the nail on the head with this information . 

Mar 27, 2017 11:16 AM #5
Rainmaker
144,356
Julie Larson Realtor® Sarasota FL 941-882-0322
PalmerHouse Properties Florida - 941-882-0322 | Serving Sarasota, Manatee & Charlotte Counties - Sarasota, FL
When you're thinking of moving...ThinkSuncoast.com

Thank you, Hannah Williams!!!

Mar 27, 2017 11:18 AM #6
Ambassador
3,983,135
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Now is an excellent time to consider buying. Many renters don't think they can buy and they probably can, Susan.

Mar 27, 2017 08:21 PM #7
Rainmaker
4,797,386
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Julie.  Yes, very true, but if you're renting it's an adjustable rate mortgage.

Mar 28, 2017 04:23 AM #8
Rainmaker
4,102,950
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Julie, maybe some potential buyers reading your post will decide it is time to start their real estate portfolio and buy some rentals.

Mar 28, 2017 05:21 AM #9
Rainmaker
144,356
Julie Larson Realtor® Sarasota FL 941-882-0322
PalmerHouse Properties Florida - 941-882-0322 | Serving Sarasota, Manatee & Charlotte Counties - Sarasota, FL
When you're thinking of moving...ThinkSuncoast.com

Debbie ReynoldsGabe Sanders & Joan Cox,  thank you for stopping by and leaving comments!!!

Mar 28, 2017 05:25 AM #10
Rainmaker
5,420,025
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Smart consumers are taking advantage of the very low mortgage interest rates to purchase a home.

Mar 28, 2017 06:39 AM #11
Rainmaker
144,356
Julie Larson Realtor® Sarasota FL 941-882-0322
PalmerHouse Properties Florida - 941-882-0322 | Serving Sarasota, Manatee & Charlotte Counties - Sarasota, FL
When you're thinking of moving...ThinkSuncoast.com

Thank you for stopping by and commenting, Roy Kelley!!!

Mar 28, 2017 08:31 AM #12
Rainer
499,879
Noel Mayer
FAIRMOUNT REALTORS - Montclair, NJ
YOU'RE RIGHT AT HOME WITH NOEL

I stopped by, thank you for sharing this information Julie Larson

Mar 31, 2017 06:05 AM #13
Rainmaker
144,356
Julie Larson Realtor® Sarasota FL 941-882-0322
PalmerHouse Properties Florida - 941-882-0322 | Serving Sarasota, Manatee & Charlotte Counties - Sarasota, FL
When you're thinking of moving...ThinkSuncoast.com

Thank you, Noel Mayer!!!

Thanks for stopping by and hope you have a fun Friday!!!

Mar 31, 2017 06:09 AM #14
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Rainmaker
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Julie Larson Realtor® Sarasota FL 941-882-0322

When you're thinking of moving...ThinkSuncoast.com
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