Is It Better For Me to Rent or Purchase a Home?

We are continuing our series of articles discussing some aspects to consider when determining if you should rent or buy a home. Our previous articles covered numerous thoughts from our Orlando listing agents/Tampa listing agents/South Florida listing agents and buyers agents, including the fact that owning a home is an investment opportunity, offers more design flexibility, and also has some lifestyle benefits. Today, we will discuss more advantages of purchasing a home.

Stability

For many, owning a home offers a sense of stability and security. Home ownership commits you to a particular location, but the peace of mind knowing that you have a home of your own regardless of how the housing market and mortgage rates are trending is something that many find extremely appealing. Owning a home also allows you to build equity that can later be extracted and/or profitable should you decide to sell your home.

Future Plans

Locking yourself into a lease agreement could make it difficult to take advantage of affordable mortgage rates and/or prevent you from making an offer on your dream home that finally comes up for sale, etc. Additionally, leases often increase annually. A fixed rate mortgage ensures the principal and interest you pay does not change.

Deciding whether to buy or rent your next home is no easy decision, and it requires careful consideration of a variety of factors. Ultimately, it’s important to weigh your financial situation, your personal goals for the future, and your lifestyle preferences. Should you decide to jump into the market to purchase a home, your friends at One Percent Guys Full Service Real Estate Agents will be here to help. Our Tampa listing agents/Orlando listing agents/South Florida listing agents and buyers agents deal only in one percent real estate, which ultimately means more money back into your pocket. Give us a call to learn more about the one percent real estate difference today!