IF your rent was the same as your mortgage, would you rather own or rent?
Is that a silly question ? Not really. In some instances it makes sense to rent and not buy.
Answer these questions:
* Are you planning to move to another city soon?
* Will your income take a hit soon?
* Do you have no money left after rent?
* Are you only able to buy in a neighborhood that you feel unsafe in?
If you answered “Yes” to any of these questions, you may not be that silly to say “Rent – don’t buy!”
If you answered “No” to all of these questions, then what are you waiting for? This is the time to buy. Perhaps even buy more than one and rent it out!
“More wealth is created in real estate than in any other area” says Clifford Arellano, a local broker and President of American Financial Real Estate Executives, AmFree. “It makes so much financial sense to buy, especially over the long haul” he continued. “The market is down right now and if you buy in this environment there is only one way to go, and that’s UP!”
There are many more factors to consider however before you go ahead and take the leap. Things like tax laws, state of the market, self emplyment, etc. To be sure we send you the correct information please indicate which article you need to receive:
If you are thinking of switching from being a renter to an owner within the next 6 months, request report #1
If you want to wait for longer than 6 months, request report #2
Read more to get a better insight