Should you rent or buy a home this fall? No ratings yet.

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Should you rent or buy a home this fall?

buy or rent choice concept, question, real estate business

It’s the eternal question; an on-going internal battle that’s progressed for years. Rent or buy? There are many factors to consider when it comes to renting a Tucson home or buying a home in Tucson. And though renting is typically viewed as having fewer risks, home ownership has potential for greater gains if you purchase smartly. So it’s time to start planning. Should you rent or buy a home this fall? Here are some advantages of buying and renting to consider before making your move.

Advantages of Renting a Home

  • Renting allows you the opportunity to avoid home ownership costs, seen and unforeseen, maintain liquidity and build credit.
  • Renting allows you mobility in lieu of being tied to a mortgage.
  • Renting a home offers a lower cost of entry, so that you can move in with as little as first month’s rent plus security and cleaning deposits.
  • Maintenance of major systems such as plumbing, electric, heating and air-conditioning is taken care of by the landlord versus the renter.

Advantages of Buying a Home

  • Home ownership provides tax benefits that renting does not such as declaring interest costs against taxes and equity building.
  • With FHA, VA and USDA loans and down-payment assistance programs, it can be cheaper to buy a home than it is to rent one.
  • With fixed-rate home loans, you have more control over your monthly payment. Variables include taxes and insurance.
  • You can decorate or make alterations to your home as you please.

So as you can see, there are a lot of factors to consider when deciding if you should rent or buy a home this fall. It’s important to make a well informed decision before making a commitment to a lease or mortgage, and Simply Property Management – Paielli Realty, Inc. is here to help. If you’re looking for a home to rent in Tucson, looking to buy a home in Tucson, or seeking a Tucson property manager please contact us today for a professional yet personal experience from a team you can trust.

Greg Paielli

Simply Property Management – Paielli Realty, Inc.

https://tucsonpropertymgmt.com

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