New year, new house?  Could this be the year you finally buy a house and get out of renting for good? There is a lot to consider with this decision so we’ve put together a list of the advantages of buying and some reasons to keep renting in the event buying is not in your best interest at the moment.  Take a look and think it over!  If you have any questions on buying vs. renting, there’s no better person to talk to than a Realtor.  They are your industry experts and can get you going on the path towards buying.

Advantages of Buying

• Interest rates are generally low right now, making it a great time to buy.
• When you buy a house, you will know that the mortgage rate for the next 5 to 30 years is going to be the same every month. Rent may continue to increase each year.
• With each payment, you will build equity and increase the amount of total home ownership.
• There may be down payment programs available in your area that can help you purchase your first home.

You Should Consider Buying If

• You want to build wealth.  Investing into real estate is the fastest way to add zeros to the end of your net worth.
• You want to settle down, build community and know you will be in the same city or town for at least 2 years.

You Should Keep Renting If

• You need flexibility and don’t want to commit to staying in the same location for the foreseeable future.
• You have limited income or are unsure about your current job.  Renting allows you the flexibility to downsize your living space.