Thinking About Buying a Home? Some Things to Consider…

August 20, 2014

To buy or to rent?

Although many people aspire to be homeowners, the decision to buy is one of the biggest an adult will make and requires careful consideration. There are a number of benefits inherent in renting that may be overlooked. For example, renters are able to budget their monthly expenses more accurately because rent is a fixed amount over the term of the lease, while property taxes and mortgage payments may fluctuate. Also, major home repairs are an unforeseen expense of a homeowner, while for renters such repairs are the responsibility of the landlord, as are maintenance costs. Another benefit of renting is the flexibility it affords when circumstances change. When renters need to downsize or find that they need more space, they have a much easier time getting into a more affordable or more suitable home when their lease expires than a homeowner faced with the expenses and challenges of selling a house. For more reasons why it’s better to rent than buy, check out this article on Realtor.com.

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