Renting vs. Buying?

The prospect of buying your first home can be an intimidating one! The decision to buy vs. renting is not a simple decision to make. There are many pros & cons for each and all should be evaluated. One factor to consider is how long will you be in your new home? If you plan on being there more than a few years then buying might be right for you. With interest rates still at near all time lows & the market shifting to a buyer’s market, now is the perfect time to start looking for your first home.

Advantages for Renting

• Fixed cost for rent.
• No Maintainece to take care of
• No unexpected expenses.

Disadvantages of Renting.

• You don’t build equity
• Making somebody else’s payments
• No tax advantages.
• Unable to personalize

Advantages of Buying

• Building equity
• Ability to personalize property
• Tax advantages
• Over time property will be completly paid for

Disadvantages of Buying

• Repairs are made by you or paid by you
• Larger initial investment, downpayment

Give us a call at Crane & Associates Realty if you would like help figuring out if buying or renting is best for you!

Tags: crane & associates realty, home buying list, home buying tips, home selling tips, kenai peninsula real estate, Kenai Real estate, Kenai River, Soldotna real estate

This entry was posted on Friday, August 15th, 2008 at 1:00 am and is filed under Buyers Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.