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The-Mortgage-Gal

Should you buy or rent?

Should You Buy a Home or Keep on Renting?

Buying a home is one of the biggest emotional and financial decisions you’ll ever make, so prepare yourself to make a knowledgeable decision.

Although buying a home almost always seems like a great idea, it is important to understand what home ownership involves.

Of course, being a homeowner is something to be proud of but it also means having to invest money, time and energy and take on added responsibilities. So, before you decide to buy a home, make sure you’re ready.

Here are some things to consider:

  • Financial Security - If housing prices rise, your home can provide you with some financial security due to capital appreciation.
  • Stability - Having a place of your own.
  • Financial Stress - Coming up with the down payment, meeting regular mortgage payments and other ongoing costs will tie up a lot of your cash, and can put considerable stress on your finances.
  • Maintenance -  Keeping your home in good shape requires time and money.
  • Responsibility - You alone are responsible for payments, repairs and maintenance.
  • Flexibility - You can decorate or renovate your home to meet your own family’s personal tastes and needs.

Now that you have an idea of what to expect, take out a notepad and list the advantages and disadvantages of renting or buying a home.

This list will help you weigh in the pros and cons of renting and buying and help you determine if home ownership is right for you. 

This article is written by or on behalf of an outsourced columnist and does not necessarily reflect the views of Castanet.

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About the Author

Tracy Head helps busy families get a head start on home ownership.

With today’s increasingly complicated mortgage rules, Tracy spends time getting to know her clients and helps them to better understand the mortgage process. She supports her clients before, during, and after their mortgage is in place.

Tracy works closely with her clients, offering advice and options. With access to more than 40 different lenders. She is able to assist with residential, commercial, and reverse mortgages in order to match the needs of her clients with the right mortgage package.

Tracy works hard to find the right fit for her clients and provide support for years down the road.

Call Tracy at 250-826-5857 or reach out by email [email protected]

Visit her website at www.headstartmortgages.com

Download her app: Headstart Mortgage Architects

 

 



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The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

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