Monday, May 3, 2021 / by Hunter Clayton
First thing you should do is determine what you need within a residence, and how long you plan on staying at said residence. If for instance, your work requires you to live in an area for 6 months to a few years, renting may be your best option. However, if you want a place you can set roots down and grow with,buying a home will definitely be your best option.
Another item to consider is cost of ownership.When buying a home, mortgage and utilities, typically cost less than the rent alone of an apartment. The homeowner is responsible for the cost of repairs to the house. The land lord is responsible for the property that is being rented.
Historically, owning a house has allowed many people to build wealth as it typically increases in value or equity.Renting an apartment does not allow for the acquisition of equity.
Both owning a home and renting an apartment have their advantages.Having goals is a great way to dictate if owning a home or renting is ideal for you. Take time to develop a plan that focuses on where you see your self in both 5 and 10 years. Consider things like job, lifestyle, family needs and the type of realtor you would like to work with.
Talking with the right realtor can help you set realistic timelines and allow you to better understand your needs to achieve your goals. Real estate can be a fundamental key to success. At All Square Homes, we want to help you achieve your dreams by educating and guiding you to your perfect home. All Square Homes