Buy vs. Rent | Lynne Thompson, REALTOR | Real Living Real Estate

Buy vs. Rent

Is it the right time to invest in your future? Mortgage rates at an historical low, providing prospective buyers with more purchasing power at a lower monthly cost! And values have slipped from the peak pricing of several years ago. A formidable consideration supportive of buying now. There are many other benefits besides the simple financial benefit of growing equity. There are practical issues, quality of life issues, and many homes are purchased due to lifestyle changes, usually on the positive side! When you become a homeowner, you control your own destiny in terms of the roof over your head – not a hostage to lease timeframes or rent increases, and generally eliminating community living or inconsiderate co-occupants. Without permission, you can delight in styling your home to your own tastes, and without the added worry about damaging the property and losing your security deposit! Your immediate neighbors are likely to be owners as well so you immediately have a common bond, and common interests, whether it be a condominium in a building, or a single family home in a residential neighborhood. You may receive tax benefits – who’s not in favor of keeping a little more of their money in their own pocket?! See the following link for some other things to consider: