Considerations Before Making the Move
Deciding whether to buy or rent can be difficult. Your lifestyle, financial situation and long-term plans should all factor in to your decision. Oftentimes, the amount of money you spend on rent each month ends up being as much as — or even more than — a monthly mortgage payment. If you decide to rent, your money won’t be an investment in equity. You won’t get it back if you decide to move because you’re not selling your home, and you can’t borrow against it for special purchases or emergency expenses because you’re not building equity. It’s just gone.
Buying may be a better choice. Purchasing a home instead of renting gives you numerous advantages, including:
Renting is a great way to set yourself up for homeownership:
When the time comes, buying a home is totally worth it:
*Consult a tax advisor for further information.
If you’re tired of renting and want to start investing in your future by buying a home, but are unsure if it will make financial sense, contact us for a more in-depth calculation based on your specific information.