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Renting vs Buying a Home: How to Make the Right Decision

a couple dreaming of their new homeIf you’re having trouble deciding between renting or buying a home, Properties by Patrick Rodriguez can help. Renting may seem like the simplest option while owning has more long-term benefits. It’s easy to see that both options have their fair share of pros and cons. In these situations, it’s best to team up with an experienced Realtor in order to make the right decision. We have compiled a handy guide that will help guide you on this exciting journey.

Rental Homes Offer Short-Term Benefits but Fall Short

Home rental tends to be a better option for those who aren’t planning on living in a city permanently. This allows renters to move whenever the opportunity or need arises. Most rental homes are maintained by the property manager so renters won’t have to worry about maintenance when the air conditioner stops working. Some rental homes even include lawn care so you won’t have to bring out the lawn mower whenever the grass gets too long.

The benefits may seem appealing on the surface but deep down, rental homes provide much fewer freedoms. For instance, there’s no way to build equity when renting a home. Unlike payments towards your mortgage, monthly rental payment will not create equity over time. The bottom line is that a rental home is not your home. You won’t have the freedom to do with the home as you wish. If you’d like unbridled freedom, become a homeowner!

Home Ownership Yields More Long-Term Benefits

The thought of owning a home may be frightening at first but if you team up with a reliable Realtor, you won’t have to worry! When you own a home, you’ll be able to build equity over time. The money you pay every month doesn’t simply disappear into the pocket of your landlord. Once you pay off your home, you will own it in its entirety! That’s something no renter could ever accomplish. Homeowners also benefit from tax deductions and, if the time to sell your home ever arises, you may be able to sell the home at a higher price point. Since you own the home, you’ll have the freedom to perform home additions or upgrades so it could perfectly suit your needs!  

Renting vs Buying a Home: Properties by Patrick Rodriguez Can Help!

Properties by Patrick Rodriguez can help you make the right decision. Choose us as your Realtor and your journey towards home ownership will be as seamless as possible! We’re ready to set you up with the home of your dreams. CALL AND ASK FOR OUR FREE REAL ESTATE GUIDE TO HOME PURCHASING.

Posted on September 14, 2018 at 4:33 pm by Patrick and Nancy Rodriguez

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