When to Rent and When to Buy a Home

Which is right for you?

If you are new to the area, new to a job or career, or have less-than-adequate credit, renting may be the best avenue for you and your family. Even if none of the above applies to you, renting has its advantages.

Renting allows:

• Short-term and flexible lease agreements in case you need to or want to relocate in the near term.
• Fewer long-term responsibilities concerning maintenance and lawn care.
• A place to start when you don’t know where to start—whether in location or in creating good credit standing.
• The freedom from a burden of a mortgage and interest payments.

On the other hand, buying a home right now is a great option because interest rates are so low. When you have investment or longevity on your mind, finding a home to own might be your best plan.

Buying allows:

• Monthly payments toward a mortgage to be equal to an investment towards ownership or resale value of the home.
• A sense of permanency and stability in the city for you and your family.
•  Choices in doing what you want in order to improve your home and yard.
• Right now, with interest rates as low as they are and a buyer’s market, the possibility of lower monthly payments than it would be with a rental.

Whether you are in the market for buying or renting a home, our agents at Clark Real Estate want to help you find that perfect place to call home. Stop in or contact us today!