How to Choose Between Renting and Buying a Home

It could be time for you to think about whether you should choose between continuing to hire a property or to make the leap and purchase a home. This query arises for many young singles and couple as well as those who may have been renting for many years and may not have been able to afford to get a home of their own. With the house prices in many areas falling to prices we have not seen in a decade and with the percentage of interest lower than they have been in fifty years it may be time to re-visit the thought of buying a home.

You may be wondering what things you must look into when trying to choose between buying a home or continuing to be able to rent somewhere. First of all you need to think about several things. Are you intending to stay living in the area for at least five years? Is your career stable and you are not in any threat of losing your revenue? It really does not matter whether you are single, married or have a family due to the fact home ownership can benefit people from any type of situation.

Talk to some individuals like an accountant to see how home ownership can be beneficial inside your taxes. Speak with a lender to see how much you qualify regarding and how much your payment might be on a home which will include taxes, interest and insurance as well as any home owners association fees that may be included on a home owner.

You might be shocked to find out that buying a home might actually be saving you money on a monthly basis from what you repaying for rent at the moment. The rental industry has increases significantly because of all the short sales and property foreclosures in the past few years.

Make a list of the pros and cons of home ownership versus hiring a property. When you are renting a property you are paying the mortgage in that property for the owner and will not be getting one particular dime back when you decide to move. If you own a home you could be able to sell the home down the line and get money back that you can use to get another home.

Along with home ownership comes other things to consider. Do you wish to maintain the property yourself, inside and out? Are you willing to pay for any repairs or remodeling the home might need? Once you own a home, you are not as flexible about moving into a new location so be sure you are ready to stay in one spot for a while.

If you are renting you are limited to what you can do to the home. You can not personalize it by making any permanent changes to the property to make it more your style. You also cannot write off one of the expenses or payments being made like you will be able to when you have a very home.

Choosing between acheter louer a home or renting could be easier than you thought. You may want to consider owning a town residence first especially if you do not have children, this way you will have less to keep up, maybe just a small patio or little to no yard and so the home itself is all you need to worry about. Do not be afraid for taking the plunge, price and interest rates are so low that many the younger generation are taking the big step a lot earlier than they ever considered that they would.

Nancy Niblett is a highly successful Agent specializing in the Chandler area. She credits her accomplishment to hard work, integrity and honesty. Clients continue to recommend her over and over again. Nancy is one of the most successful award-winning agencies and currently with West USA Revelation. She has been awarded the top 50 Individual Agents for the Phoenix location by Phoenix Business Journal for the past several years.

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