To Rent or to Buy? That is the question....

Should I rent or buy?

This is one of the most common questions I hear in real estate. Is it better to rent or to buy? Well, my answer may not be the answer you’re looking for: it depends. I would say 9 times out of 10 it is better to buy, but certainly not always. You want to be searching for the best deal and generally the best deals are buying. The landlords you rent from are going to be making money off of you unless you truly have a smoking deal. So why not make money off of yourself and be your own landlord? Nobody is going to be a better tenant to you than yourself so if you can afford to buy that is normally the way to go. One of the downsides to buying is that your property value is subject to the housing market. Normally this is good because historically real estate appreciates in value, but if you are buying when prices are high and then the market crashes, you can find yourself in a pickle. Even with this potential downside, the housing market does normally bounce back up. So next time someone asks you is it better to rent or to buy you know what to tell them. It depends.