BUY IF...RENT IF
*Photocredit to Robert Norman Photography. Follow him on Instagram @robertnormanphotography and check out his website at www.robertnormanphotography.com
A few of my rental clients are thinking about making the transition into buying a property. One client is thinking about buying in the building that they currently rent in and the other is thinking about a fixer upper house. So, I thought i’d pass along some of the tips that I shared with them this weekend. There are more factors to buying than what I have jotted down below but part of my job is to assist my buyers along the way to home ownership and provide as much information as I can to help them make an educated decision. Let this be just the start of a very exciting conversation :-)
RENT if you…
Want little hassle — renting gives you freedom and flexibility
Have limited savings — a down payment, land transfer tax and closing fees can add up
Are involved in other investment opportunities — Your money is tied up in stocks, bonds and currencies
BUY if you…
Enjoy building wealth and equity — Your property is a piggy bank that builds financially
Want to invest in real estate — the housing market is hot and you want to capitalize on those gains
You can afford it — You’ve built up your nest egg and now’s the time to invest
Still not sure which is the best option for you? Stay tuned..i’m publishing an additional blog post tomorrow. I’d be more than happy to provide value by crunching the numbers and finding the most viable option that works best for you!
-Sarah