If you’re on the home-buying journey for the first time, you may have the image of the perfect home in mind. Every wall a color you love, the best flooring, and the perfect backyard. While
Rent VS Buying
-Are you planning to relocate or move withing a year?
If you are, it might be better to rent and to buy. Financially speaking, it is better to buy knowing that you will be living in the property for at least two year.
-Are you not handy or not ready to afford any repairs responsibilities?
If you would need to hire a handyman to change a light bulb, you might consider rent, why, you would have the services of a handyman, plumber, electrician sometimes included in your rent. A mortgage doesn't include any services.
- Do you think is cheaper to rent than to buy?
It depends on the market. In some cities, is cheaper to have a mortgage than to pay rent. If you want to see it as an investment, why not be the investor instead of paying someone else investment.
-My credit is not that good.
If you are working on your credit, you might have a smaller selection of houses that you can qualify for. It is then better to rent, work on your credit and then contact a few lenders to see if you have a better qualification and obtain better rates.
Evelyn was born and raised in Puerto Rico and left the island 20+ years ago with her husband and family to begin her life as a Military Spouse. Now, she is enjoying being the proud spouse of a Retired....