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Buy Vs Rent Myths...

July 11th, 2019

Please click on the link below to know detailed information on where you are financially; the advantages and disadvantages of buying and renting, and if you should buy or rent. I only talked about a small part of the information, briefly below.

Should you buy or rent? Can you afford a house or do you just stick with renting at the moment? This tends to be a confusing topic for most.

If you want a house along with all the different amenities that it has to offer, it also comes along with other monthly payments besides a mortgage. You have your property taxes, maintenance, homeowner’s insurance on top of your mortgage payment. Also, do not forget to include your created expenses; for example, utilities, water, car payments, cell phones, food, and clothing that will be added to your monthly payments as well.

When should you rent? If you have student loans or credit card debt. Renting can be your stomping ground for getting out of debt and preparing to buy a home.

I know for my husband and I, we had rented a small apartment when we finished college and worked in our careers. We had credit card debt, student loans, and 1 car payment. We had just enough each month to pay these debts off and living paycheck to paycheck. Also, we had our monthly rent, small utilities, water, food, dog and rabbit food, and we even had to go to a laundry mat back in the day to pay to wash our clothes. The dangerous side of all this is that in case of an emergency, there was no emergency fund, no job layoff fund to pay our living expenses for 3-6 months, and no savings.

When trying to decide if you should buy or rent, look at where you are financially.

Hope I was able to help everyone!!! Please like and share my blog with friends, family, co-workers, and neighbors.

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Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®

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