The answer to the Rent Vs Buy question is constantly evolving to your current situations and your goals.
There are a few main points to consider:
1 — Where do you want to live? How long would you like to live there?
>> Neighborhood Safety
>> Drive Time to Work, Shopping, & Recreation
2 — The purchase price of the homes in the area.
3 — Down payment / Loan programs / Interest rates / Mortgage term
4 — What is the cost of renting a similar home
5 — Buying a home is an investment. It is a great opportunity to build equity each year
** If renting still outweighs the benefits of buying, those savings must be invested, not spent.
Curious about your purchase power? Reach out to a lender and they can let you know where you stand, what loan options are available to you and what you could possibly improve on. Then, reach back out to us and we can begin searching for your dream home!
*** All information and opinions herein these blog posts should not be taken as investment advice. They are intended to be helpful information, not interpreted as advice. Remember to always carry out your own research and seek professional guidance when making investment decisions. Full Spectrum Realty will not be liable for any loss or damage caused by your reliance on the information or opinions expressed herein. Always do your due diligence, consult a professional and conduct in depth research.