Is it better to buy or rent a home? 🤔
Despite what you may hear, there’s no single right answer. But, don’t panic—we’re here to help! Start by asking yourself these 5️⃣ questions:
❓ How long do you plan to stay in the home?
You’ll get the most financial benefit if you remain in place for at least 5 years.
❓ Is it a better value to rent or buy in your area?
Look up the price-to-rent ratio, and consider the long-term financial impacts.
❓ Can you afford to own a home right now?
Be sure to consider the costs of maintenance and repairs.
❓ Can you qualify for a mortgage?
Talk to a lender to determine whether your finances are in order.
❓ How would owning a home change your lifestyle?
Do you relish the thought of painting the walls or starting a garden, or do you prefer to have someone else handle upkeep?
If you’re still on the fence, check out our latest blog post for more details about how to make the right decision for you.
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