This is the question that we typically find ourselves asking. With such a huge purchase as a house, it’s no wonder we take awhile to wait for the perfect time. In order to prepare ourselves mentally, physically, and emotionally for this large purchase, it’s always best to talk to a mortgage lender. By doing so, you are able to come up with a full-proof homebuying plan. It may take 1 month or 1 year until you are financially ready to be approved for a mortgage, but you are taking the proper first step.
Let’s look at a few general Pros and Cons of Renting and Buying a home:
Renting Pros:
- No Maintenance
- No Property Tax
- Easy to Move On
Renting Cons:
- Increasing Rent
- Lease Deadline
- No Equity
Buying Pros:
- Make It Yours
- No Payment Hikes
- Build Equity
Buying Cons:
- Money Down (not always with certain grant programs)
- Cost of Selling
- Maintenance
Obviously, there are many more pros and cons, and everyone’s are different. What remains the same is the process of homebuying, which we have down to a science. We would love to help you through this process! On Thursday, February 23rd, The Greco Group is hosting our First Time Homebuyer’s Showcase from 6-8 PM. Click HERE for more info on this awesome event! Also, in the meantime, check out the flyer below that provides additional information on this infamous question of renting v. buying!
P.S. Here are your weekend Open Houses in Gainesville!
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