Vanguard Properties
How do you know if it’s better to buy or rent a home? With so much to consider, this big life decision may seem overwhelming. However, as long as you focus on some key questions, you can make the best choice. Here are the questions to ask yourself if you’re trying to decide between renting and buying:
Buying a home is a commitment. If you have a clear plan for the future and are comfortable to stay in one place, home ownership might be a good option for you. Thinking in terms of a “5-year plan” is a good way to determine whether you should buy versus rent, because it takes approximately 5 years for a house to appreciate enough value to make up for the cost. Also, mortgages often have fixed terms that will penalize you for paying off or breaking contract early.
Renting gives you more freedom to move around and change your mind in the future. Most rental agreements are for a year or less and some even allow month-to-month commitments. If you do not want to stay in one geographical area for the long term, renting is a good idea. It’s also simpler if you decide or need to make a career change requiring relocation.
Home ownership has amazing benefits. However, it’s important to consider which of those benefits matters the most to you in your situation. A good question to ask yourself is what specifically about owning a home appeals to you. Do you want complete autonomy over things like design, landscaping and maintenance? If so, buying will be better than renting for you. If you are looking for a sense of permanence and the ability to truly make a space your own, ownership will also provide you with those benefits over renting.
These are just a few things to think about when deciding between renting or owning a home. Weigh your options and ask yourself these questions in order to make the best choice.
Selina Zhao is a tech savvy real estate agent who brings over the top-notch marketing strategies, presentation, and negotiation skills to her clients. Selina always stays on top of the real estate market trends and stats. She applies strategies into different market situation and empower her clients to achieve their ultimate goal. During the first year of her real estate career in the Bay Area, she achieved an impressive $22.8M in sales. Selina’s experience on real estate sales ensure her clients get the care and attention they need as they make the crucial decision of buying and selling properties. Selina is vowed to provide excellent service, communication, and always an advocate for her clients.
Selina loves real estate, her career blended in perfectly to her daily life, and she loves to help others to achieve their American dreams. She works restlessly to get the work done. Immigrated from mainland China in 2007, graduated from University of Miami, Selina established her own online marketing company and her real estate career in Miami, Florida before moving to San Francisco in 2017. Her soul of entrepreneurship and cares for others encouraging her to pursue to be the best in the industry. Selina is also a former Miami HEAT video producer, who witness the team winning their 2012 NBA championship at the courtside.