Renting versus Buying

Rent Vs. Buy

 

 

        

  A lot of people understand the main concept of why they should buy rather than rent. The main reason? IT MAKES THE LANDLORD RICHER! Here, we highlight the main points that you should know before you make a decision on what your future holds.

                Of course, everyone should know that there are good and bad things about buying vs. renting. It depends on your situation and other factors that can vary depending on the current. Here, we highlight the key factors that will ultimately help you decide what should be the best decision for you.

                First, it should already be in your mind where you want to live. Whether it’s the big city or a small rural area, this all plays a major factor in the whole debate. In high-priced areas like Downtown Dallas or Fort Worth, renting may be the only affordable option. You also may want to take into account when moving such as safe neighborhoods, good schools, proximity to public transportation, walkability, commuting time to and from work, and shopping and recreation. Here are of some of the points that you won’t fully understand until you get there: Stability – meaning YOU can choose when you will move; Financial Predictability – when you have a fixed-rate mortgage, your payment doesn’t change; You have all the freedom to renovate without facing repercussions or unexpected cost upon moving out; And of course taking pride in your ownership of the house.

                Not only do you acquire the pride of owning your own home but you also are INVESTING your money in a safe and interest earning way. Did you know that in 2018 we saw that the average inflation of a home go up by 2.89%? This means that you if you buy a $250,000 home in 2012 and you sold it in 2018 you would see the price of your home sell at $290,000?!* That means you would profit at least $40,000.

                Of course, we understand that buying may not be the best move for everyone. Regardless, here at Alexander Chandler Realty, we can help you whether you want to buy a home or just test out an area by renting. Give us a call today!

 

Year

USD Value

Inflation Rate

2012

$250,000.00

1.65%

2013

$255,203.89

2.08%

2014

$261,787.45

2.58%

2015

$267,227.36

2.08%

2016

$273,864.99

2.48%

2017

$282,010.43

2.97%

2018

$290,147.28

2.89%

2019

$297,581.67

2.56%*

* Not final.

*All the numbers and situations stated in the web entry above are just examples and Alexander Chandler Realty cannot guarantee that an individual client will receive that same outcome. 

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