Should I buy or rent a home in Arizona?
The question often comes up, should I buy a home or rent? The question of buy vs. rent is only one you can answer, but buying might be more affordable and a better option than you might think.
Buying a home can be a difficult decision. Many people are unsure if they can afford to buy a home whether it is brand new or a resale. The also don’t know about maintaining a house. Home people would rather just call the landlord when something goes wrong, and not have to worry about having it fixed themselves. There are a few things to consider when deciding on buy vs. rent.
Financial
The first and usually the biggest factor are finances. Do you have the cash to close on a home? Are you able to qualify for financing? What does the cost to rent look like compared to what it would cost to own the home? There are a number of financial questions that go into determining what is right for you and your situation. One of the best things to do is to discuss it with a licensed real estate professional. A good agent will help you with your decision no matter what you decide, and will gladly be able to help you in finding the home of your dreams no matter if it is going to be rented or purchased.
Maintenance
Maintaining a home can be costly and time consuming, especially if the property has not been cared for in an acceptable manner in the past. This is an aspect that some people have an ability and desire to take on. For others it is too much. You just have to decide what you are able to do, and what you will be able to afford when problems arise.
Time
Time is another factor that many people don’t seem to take into consideration. Do you have the time to not only upkeep your home, but to improve it as well? The size of home, the type of yard, if the home has a pool, and other house characteristics play a role in the amount of time and effort your home will need.
As you can see, there is more to owning a home than just the financial considerations. However, finances are the biggest and in many cases the most important part of home ownership vs. renting. I believe that home ownership is a wonderful thing and can be very rewarding, but it is not for everybody. Whether, you rent a property or buy a property it is still your home!
If you are looking to buy a rent, buy a new construction home, or buy a resale home, please give me a call. I would love to help you find the perfect place for you to call home.
William Morris
Berkshire Hathaway HomeServices
(602) 740-1900
william.morris.wm@gmail.com
www.williammorrisrealestate.com
Let me help you determine what is best for you: buy vs. rent!
Leave a Reply