Palmer Harned, Realtor®
Palmer Harned
703 868 9983 703 868 9983

Renting vs. Buying

One of the most common questions asked by people considering a home purchase in the next few years is whether buying really is the best choice for their specific situation.  Take a look at the pros of each scenario to learn which may be the best fit for you.  You can also use my Rent vs. Buy calculator to get a detailed look at your specific situation.  

Pros of RENTING

  • No responsibility for major maintenance items  
  • No property taxes or HOA dues to be paid
  • No down payment needed
  • No long-term commitment required

Good for:

  • People who move job locations often or will only be in an area temporarily
  • People who have recently gone through a foreclosure, filed for bankruptcy, or are trying to build credit

Pros of BUYING

  • Most secure and certain investment to make money over time
  • Monthly payments go toward your equity, not to a landlord
  • Incredible tax benefits
  • Gives a sense of community and pride of ownership

Good for:

  • Anyone with a good credit score, steady employment, and reasonable savings

 

 

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