Renting vs Buying

To rent or to buy....that is the question (you must say this in a very Shakespearean voice!)

There are times when renting is best and not.  What are your future plans?  As I've stated in previous posts, talking to a financial person is always in your favor so that you know what your future brings (ie: the purchase of a new home!).

Here in Central Texas, specifically New Braunfels, the rental market is a fierce and furious one!  People line up for homes because there aren't a lot of decent rentals available.  (Look for future posts regarding investment properties.)

Renting can be crazy because you are essentially paying someone else's mortgage.  So, why not pay your own mortgage and reap the tax benefits that go along with it?

Now, don't get me wrong, as a home owner, there are times when I wish I could call the management office and someone will come fix the A/C or change the light bulbs and I'm not out any money.  But, can I paint what I want, hang what I want and build equity for future purchase?

Rentals can be a challenge because you don't know how well the owner has taken care of the property. If you are in a dwelling that shares walls with others, those "others" can be difficult, if not unbearable (and you are locked into a lease)! Then don't forget the deposits and how hard you work to get most of it back when you move.

The moral of this story is that after you have talked to a financial person, so that you have a plan of action, decide if renting or buying is your best bet.

And ALWAYS use a licensed real estate agent.

Blessings my friends!