Contrary to popular belief, there are pros to renting vs. homeownership. Proponents of renting value the flexibility and the fixed-cost model it affords. Surprise repairs won’t derail your savings and renting serves as a great transition between home buys. Buyers not yet qualified for financing due to a lack of savings, existing debt, or poor credit find it a necessary solution. And while renting may prove the best option sometimes, it does not provide the opportunity for generating wealth like homeownership does. So if you aren’t convinced it’s time to make a plan to exit your rental, here are 5 things to consider.
While renting provides a needed solution, making it your long-term solution may not be the best choice. Buying takes planning and planning takes time. If you are considering buying in the next 18 months, contact me today to walk through the First Five or click below to see if you qualify for down payment assistance. Never miss a post. For more useful real estate tips & tricks, subscribe to my mailing list or contact me with any real estate questions.
Kat Medaries, REALTOR® Long & Foster Real Estate, Village of Midlothian Sales Licensed to sell in the Commonwealth of VA / Equal Housing Opportunity For informational purposes only. Not intended as legal, financial or credit counseling advice. Seek the assistance of a professional should you require.
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