Renting Vs. Buying in SWFL: Which Is Right for You?
Home ownership is a goal that many of us strive toward, and for good reason. A home of your own is a solid, safe investment, in addition to coming with the knowledge that it’s yours to do with as you wish. Paint the interior, upgrade the siding, knock out a wall – you can do whatever you want, without having to answer to a landlord.
However, owning a home isn’t necessarily the best choice for everyone. Various factors such as career, income, and stage of life can make a big difference in whether buying or renting will be the better option right now. But how do you decide?
The Benefits of Renting in SWFL
Although it might sound weird, there are plenty of times when renting is a better choice than buying, especially if you need any of the following factors:
Flexibility: Are you in a career that could require you to relocate? Are you thinking about moving to a different state or city in the future? Or are you just not ready yet to make a long-term commitment to a house? All of these are great reasons to rent your home.
Know-How: It seems like some people are born knowing how to replace a faucet and install carpeting. Others of us are lucky if we know which end of the wrench to hold! A big perk of renting is that you won’t be responsible for routine maintenance or making repairs when things break, so if you’re not an especially handy person, this could be very attractive.
Lower Costs: Buying a house is an expensive process, and it can take some time to save up a down payment. Even after the sale is final, ongoing maintenance plus any upgrades you want to make will eat up even more cash. If you’re not in a financial position to be able to do that, renting is the better choice right now.
The Advantages Of Owning Your Home
However, there are other times when renting just doesn’t make sense, and it’s time to start looking for a home to buy. It’s time to start house hunting when you find yourself wanting these perks:
Dependability: Once you’ve bought a house, it’s all yours for as long as you want it. There is no risk of a landlord raising the rent and forcing you out, or selling the house and evicting you. You can stay put for as long as you please.
Independence: Not only can you stay there for as long as you want, you can do what you want! Rent out a bedroom, remodel the kitchen, put in a pool, redo the landscaping – the sky is the limit when you own the property.
Profit: It takes a long time, but in most cases you’ll see a return on your investment when you purchase real estate. Each mortgage payment you make increases the equity in your property. Of course, this is not an absolute guarantee, but most of the time real estate is a sound investment.
Ready to Buy? Call the Link Team Today
If you’re at a point in your life where it’s time to purchase a home of your very own in SWFL, talk to the Link Team! We’ve been in this business for over twenty years because we treat our clients honestly and respectfully, and we love helping first-time buyers find a great home. You can get in touch through our website or call (239) 357-5058.