To Rent? Or to Buy?

When looking for a new place to live, the first question you ask yourself will help drive the rest of your decision-making. Should you rent or buy? Buying may seem appealing because you will put an end to escalating rent and can build equity, but renting isn’t nearly as permanent as purchasing.  

There is one major difference between renting and owning I want to touch on, the ability to lock in your housing cost! Assuming you will have a fixed-rate mortgage, your costs are predictable! You will know exactly what your mortgage payment will be for the next 15-30 years. Are you ready to lock in your housing cost instead of waiting for you landlord to raise their rent again?

Here are some basic questions to consider when thinking about buying a home:

1. How long do you plan to stay there?

2. What is your budget?

3. What’s on the market?

It’s important to crunch the numbers and weigh your options. Check out this free calculator to quickly do the math for yourself.  

If the numbers look feasible for you, contact us to set up an appointment with one of our VIP Lenders! Call or Text 920-470-7451.

https://www.nerdwallet.com/mortgages/rent-vs-buy-calculator