Renting vs Buying
5/5/13
Real Estate Extra Credit
Renting vs. Buying
Picking a place to live is one of the biggest decisions we make in our lives. It is a decision that is not to be taken lightly and must be planned out way in advance. One thing you need to decide is whether you want to buy or rent a home. There are pros and cons of renting and buying a home; and you need to be able to decide logically what is going to work best for you. There are many different things you need to access at when picking a place to live, but the most important thing you need to access is yourself. You need to see where you are at in your life and make sure that your making a wise decision. The first thing you need to look at is your job. You need to make sure that you like your job and that you are going to be working in the same location for the next few years. You also need to make sure you have job security that way you will be able to keep up with your payments. Another thing people need to consider is their personal lives. Your age and relationship status are major factors that need to be considered when deciding where you live. For example a single 26 year old probably doesn’t need to live in a big house with three bathrooms; but a married 26 year old with a baby on the way does. You also need to look at the housing market and decide whether or not it is a good time to purchase a home. You don’t want to buy a house that is at its peak-selling price, because if you ever decide to move you will probably lose money in the sale. There are many different pros and cons when it comes to renting and buying a house. One pro to renting is that you have more flexibility. You will be able to move if need be, and breaking a renting lease is much easier than selling a house. Another pro of renting is that you will have more liquidity. Renters don’t have to make a down payment, pay closing costs or deal with real estate taxes. By not having these costs renters are able to use their money
Real Estate Extra Credit
Renting vs. Buying
Picking a place to live is one of the biggest decisions we make in our lives. It is a decision that is not to be taken lightly and must be planned out way in advance. One thing you need to decide is whether you want to buy or rent a home. There are pros and cons of renting and buying a home; and you need to be able to decide logically what is going to work best for you. There are many different things you need to access at when picking a place to live, but the most important thing you need to access is yourself. You need to see where you are at in your life and make sure that your making a wise decision. The first thing you need to look at is your job. You need to make sure that you like your job and that you are going to be working in the same location for the next few years. You also need to make sure you have job security that way you will be able to keep up with your payments. Another thing people need to consider is their personal lives. Your age and relationship status are major factors that need to be considered when deciding where you live. For example a single 26 year old probably doesn’t need to live in a big house with three bathrooms; but a married 26 year old with a baby on the way does. You also need to look at the housing market and decide whether or not it is a good time to purchase a home. You don’t want to buy a house that is at its peak-selling price, because if you ever decide to move you will probably lose money in the sale. There are many different pros and cons when it comes to renting and buying a house. One pro to renting is that you have more flexibility. You will be able to move if need be, and breaking a renting lease is much easier than selling a house. Another pro of renting is that you will have more liquidity. Renters don’t have to make a down payment, pay closing costs or deal with real estate taxes. By not having these costs renters are able to use their money