To buy or not to buy—while that may be the question, there are a few other questions you need to ask yourself first before deciding between renting or buying.
“Should I rent or should I buy?” My team and I are presented with this question a lot, and the answer rests on your answers to a few other questions you’ll need to ask yourself first.
First, how long do you plan on staying in general?
The length of time you plan to stay in the area is a good jumping-off point. After all, if you only plan to call the area home for a year or so and are just checking things out, you may want to consider renting.
“ Think of a home purchase as a long-term investment because that’s exactly what it is. “
For the sake of the investment, how long are you staying?
Think of a home purchase as a long-term investment because that’s exactly what it is, and a short-term stay probably won’t line up well with a long-term investment. By virtue of the fact that the market seesaws up and down, you’ll want to know what market conditions are like when it comes time to sell.
What buying opportunities do you have in that specific location?
In the area you’re searching in, opportunities to purchase a home might be few and far between. Because of this, it might be a better idea to rent until the right opportunity arises.
There are more answers where that came from on this topic! Feel free to reach out to us with any questions you have, and be sure to check out our website at CoreHomeSearch.com if you’re looking for homes. We look forward to talking to you soon!