Should I Rent or Buy a New Home?
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Do you wonder whether you should rent your next home or apartment or just go ahead and buy? How do you decide what is right for your family or your budget?
Real estate expert Ilyce Glink gives tips on whether buying or rending is right for you in the Equifax Blog article, “
Renting vs. Owning Property: How to Make the Call?” She says the very first step is to decide your location and get to know it. If your chosen neighborhood has lots foreclosures, you may get a better deal by buying one of the foreclosed homes.
Other considerations are less location specific and more related to your personal situation. If you’ve got a stable, long-term job, buying might be for you. If you’re still finding your place in terms of jobs, relationships or parenting status, you may want to rent instead. Otherwise, you may find yourself stuck in a location or a home that’s not right for you within a short period of time.
With great deals available to rent or purchase, Glink encourages careful consideration of all factors. Before you decide to rent or purchase, visit the
Equifax Personal Finance Blog and run through Glink’s checklist of important factors. You may be surprised to find that what you want initially isn’t necessarily the best thing for you right now.