{"id":7371,"date":"2020-01-28T17:42:22","date_gmt":"2020-01-28T12:12:22","guid":{"rendered":"http:\/\/bhatnagars.co.in\/?p=7371"},"modified":"2020-01-29T09:36:32","modified_gmt":"2020-01-29T04:06:32","slug":"renting-vs-buying-a-home-which-is-right-for-you","status":"publish","type":"post","link":"https:\/\/bhatnagars.co.in\/renting-vs-buying-a-home-which-is-right-for-you\/","title":{"rendered":"Renting Vs Buying A Home : Which Is Right For You?"},"content":{"rendered":"
Renting vs. buying a home isn\u2019t a matter of ownership. Here are other key differences between the two options.<\/p>\n
Homebuyers can capitalize on the equity their home accumulates over time. That means if the home\u2019s value goes up, you\u2019ll cash in on the higher value when you sell. Plus, with a fixed-rate mortgage, you won\u2019t have to worry about rising rents.<\/p>\n
\u201cInterest rates are so low now,\u201d Hopson says. \u201cThat means borrowing money is very inexpensive today. In Dallas, where rents are high, it can almost be as affordable to purchase as to rent in many parts of the city. If you can qualify for a home and build some equity that ultimately makes more sense than renting.\u201d<\/p>\n
Another factor for buyers to consider is whether you will be able to deduct the mortgage interest at tax time. Tax laws allow those who itemize their taxes to write off their mortgage interest payments. However, not everyone is eligible to itemize deductions, and\u00a0changes to the tax laws\u00a0\u00a0means that more people won\u2019t be able to deduct as much of their mortgage interest and property taxes as they used to.<\/p>\n
Homes need repairs and maintenance over time, and when you\u2019re renting, those costs are generally the landlord\u2019s responsibility. For instance, in an apartment, if the HVAC system or refrigerator breaks, the landlord has to fix it. On the other hand, as a homeowner, you\u2019ll be on the hook for those repairs and\u00a0ongoing seasonal maintenance, and they can add up fast.<\/p>\n
If you\u2019re moving to an unfamiliar city, have an unstable job situation or don\u2019t know what neighborhood will feel like home, renting for a period of time can be a great option.<\/p>\n
\u201cDuring that rental period, people really get a sense for what they like or don\u2019t like, and we can also start exploring different purchasing options during that time,\u201d<\/p>\n
While no one has a crystal ball, it\u2019s important to evaluate your current life situation and how much it\u2019s likely to change in the immediate future.<\/p>\n
Clients who are going through life changes, like divorce or downsizing, to rent as a way to decompress before making a large purchase that may not be right for their new lifestyle.<\/p>\n
For clients who have a changing personal situation, such as getting married or planning to have a child soon, we encourage them to look at properties<\/a> they\u2019re not going to outgrow quickly,\u201d Another consideration: Can you afford a home that will fit your lifestyle in the next few years, or will a tight budget limit your options?<\/p>\n \u201cIt may be better to wait or rent for a little while until you can afford the home, you can live in for some time or grow into with their family,\u201d<\/p>\n It may be helpful to talk with a trusted real estate agent to help you think through the decision to rent vs. buy a home. Here\u2019s a list of pros and cons to help you on your way.<\/p>\n <\/p>\n <\/strong><\/p>\n If you are looking for property for Rent or Buy in Pune just call <\/strong>BHATNAGARS<\/a>. <\/strong>We are the top real estate agency in Pune.<\/strong><\/p>\n We will be very happy to help you and assist you in your search.\u00a0<\/strong><\/em> Charu:\u00a0 \u00a0 \u00a0 \u00a0 +91-8055894455<\/strong> Monday to Friday-\u00a09:00 AM TO 6: 30 PM\n
Bottom line: Choose what\u2019s right for you<\/strong><\/h4>\n<\/li>\n<\/ul>\n
Renting vs. Buying a House: Pros & Cons<\/strong><\/h2>\n
Pros of buying<\/strong>:<\/h3>\n
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Cons of buying:<\/strong><\/h3>\n
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Pros of renting:<\/strong><\/h3>\n
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Cons of Renting:<\/strong><\/h3>\n
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