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Real Estate Information |
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Renting Versus Buying A Home
Renters are often in a quandary as to whether it makes sense to continue renting or buy a home. Buying a home makes more sense, particularly when taking a long-term view. Yes, even in the current hot real estate market. Renting - Advantages Renting can have a few advantages depending on the part of the country you live in. The primary advantage is your monthly rent payment may be less than an equivalent mortgage. A secondary advantage is the fact that maintenance and improvements to the property are the responsibility of the landlord. Still, these advantages pale in comparison to the disadvantages of renting. Renting - Disadvantages The disadvantages of renting are significant. If you have any opportunity to purchase a home or condominium, it almost always makes sense to do so. The biggest disadvantage of renting is the loss of value. Assume you rent a residence for $1,000 a month and you live in the residence for two years. You will have paid a total of $24,000 in rent, a pure expenditure. The $24,000 is simply gone and you will have nothing to show for it other than the time you spent in the home. Compare this to what your landlord has gained. Rent payments are closely aligned with a landlord's mortgage payment. Using the above example, lets assume your $1,000 rent exactly equals the mortgage payment. For two years, you have indirectly paid the landlord's mortgage, helping them build equity in the house by paying down the loan. In addition, the landlord has benefited from the appreciation of the property. By appreciation, I simply mean the amount of increase in the value of the house. If the rental appreciated $20,000 in two years, the landlord has received a windfall. They may have seen a gain of $24,000 in appreciation and payments lowering the mortgage. As a renter, you have made this all possible. The landlord no doubt would like to thank you. Now, what would have happened if you had purchased a similar home with similar financial figures? You would have seen an increase in YOUR wealth of $24,000, not the landlord's wealth. If you renting, these figures should make your teeth grind. If you are renting, you should be out shopping for your own property. After all, isn't it time to make your money work for you, not a landlord? Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.
MORE RESOURCES: Sellers are flooding the home market while buyers sit on their hands in these US cities — creating a historic imbalance New York Post The housing market is finally buyer-friendly. Here’s where sellers are cutting prices. - MarketWatch Real Estate Transactions, June 16 edition Hopkinton Independent Real estate transactions sungazette.com Erie County real estate transactions Buffalo News Trump Just Disclosed He Received Millions Of Dollars From This Saudi Real Estate Developer Last Year Forbes Selig loses control of 9 more assets, including company's headquarters tower - The Business Journals Selig loses control of 9 more assets, including company's headquarters tower The Business Journals Real estate transfers in Adams County from June 2-6, 2025 Muddy River News Eastern CT Association of Realtors holds event at Norwich Inn & Spa to honor their own Norwich Bulletin Richland County property transfers recorded June 9-13 Mansfield News Journal Real estate broker’s take on Denton housing market: Price cures all defects Denton Record-Chronicle Real Estate Transactions | June 2-6, 2025 Republic-Times U.S. Commercial Real Estate Market Turns a Corner Amid Rising AI Momentum and Shifting Demand Patterns Boston Real Estate Times 34th annual Real Estate Center Dinner spotlights students, program supporters University of Cincinnati eXp Realty Honored by National Association of Hispanic Real Estate Professionals Direct Selling News Real Estate Sold: June 18, 2025 Lebanon Local Compass sued over unsolicited calls, texts Real Estate News by RealEstateNews.com Jamestown property on Bayview Drive sold for $2.3 million tops latest Newport County sales Newport Daily News Conversational marketing is the new pipeline: How AI is redefining intent in real estate HousingWire The Boulos Company Brokers Sale of Fully Leased Commercial Property in North Hampton, NH Boston Real Estate Times House on Georgetta Drive sells for $1,925,000 East Bay Times Kayne Anderson Real Estate closes opportunistic debt fund at nearly $1.7bn Alternatives Watch Katelyn Klingler Leveque & Kiamesha-Sylvia G. Colom: What real estate brokers should know from the 2025 Legislature The Indiana Lawyer CIBS-LI launches “Square Feet” real estate podcast Long Island Business News Keller Williams slapped with another telemarketing lawsuit Real Estate News by RealEstateNews.com Real Estate Roundtable: Brandon Craft Baton Rouge Business Report REAL ESTATE BRIEFS: Oakbend community under development in Wellen Park Sarasota Herald-Tribune Real Estate Roundtable: Jackelyn Gallo Baton Rouge Business Report Hamptons Real Estate Market Data – Week of 6/10/2025 Hamptons.com CEO of commercial real estate firm Boerke to step down this month BizTimes - Milwaukee Business News Announcing the Business Journal's Best Real Estate Projects for 2025 The Business Journals REAL ESTATE | Open House events at Cedar Creek Townhomes in Jackson, WI | By Jo Sadownikow Washington County Insider Bay CIty, OR 3BRD Decker Real Estate MLS 25-291 Tillamook Headlight-Herald Refined Real Estate: Unique A-frame in Issaquah lists for $1.89M Seattle Refined Globalworth Real Estate Investments (LON:GWI) Shares Pass Below 200 Day Moving Average - Here's Why MarketBeat NAHREP names Illinois’ top Latino real estate agents by transactions Chicago Agent Magazine Walker joins real estate firm Prologis's investment unit - Global Venturing 290-Unit Bria Celebrates Grand Opening of The Beck in Haverhill Boston Real Estate Times Central Mass. real estate transfers for Sunday, June 15 Worcester Telegram State legislature approves tax incentives to boost businesses, jobs and commercial real estate Brooklyn Eagle Blueprint: Brookfield’s next real estate chief, Ares and PIMCO raise billions for data centers and more Private Equity Real Estate | PERE I wrote about millennials’ real estate woes. Then I felt the wrath of Gen X. Business Insider Nederland 2025 Epique PowerCON Accelerates the Future of Real Estate The National Law Review June 6-12 Gulfport Real Estate Sales The Gabber Newspaper E-Leon: Prioritizing Mental Health in Real Estate Arizona Digital Free Press Italy Real Estate Market Set to Surge to USD 11.3 Trillion by 2033 at a CAGR of 1.1% | IMARC Group openPR.com Nemmers Realty Bellevue Herald Leader Real Estate Roundtable: Becky Walker Baton Rouge Business Report Saudi Arabia Real Estate Market Set to Surge to USD 132.65 Billion by 2033 at a 7.0% CAGR openPR.com Greater China property, finance firms face rising distress: AlixPartners South China Morning Post MLB star turned real estate developer Alex Guerrero asks $75M for a Miami spec mansion — with an 18-car garage New York Post 'Nothing's falling off the cliff': A look into Florida's real estate market, slowdown of home sales WUSF Radio Real Estate 6/14/25 My Bellingham Now See how much real estate prices have changed in Napa last week The Press Democrat Real Estate in the Modern Era: Investing Beyond Bricks and Mortar Muddy River News Vendor & Real Estate Partners Dollar Tree Lawrence mayor on taxes: ‘We need more people to share the burden,’ he tells local real estate leaders Lawrence Journal-World Pinellas Beaches Real Estate June 10-16 The Gabber Newspaper |
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