Trying to determine whether it is the right time for you to purchase a home or continue renting can be a difficult decision.
Many people like the carefree maintenance of renting and the ease of moving without worrying about having to sell a home first. Interest rates are at an all time low and it is unknown how long they will stay that way. Buyers in the position of not having to sell a property before purchasing a new one have some great buying power in the current housing market.
Renting can be a good option for those unsure of wanting to stay in the area, considering a career change or just don’t want to deal with the hassles and upkeep of owning a home. I will be the first to admit, owning a home is very time consuming, requires a lot of upkeep and has more expenses involved then renting a home. However, I enjoy the fact that I come to a place I call home every day! I also like knowing that at any time I can change a paint color, add a deck or landscaping and customize the home to my liking. Most often renting does not allow you to do that. Tax breaks are also a great part of home ownership!
Although housing prices have had a steady decline, purchasing a home is still an investment! There are many other benefits in owning a home which should not be overlooked, but often are.
