Gene's Chicagoland Mortgage Blog: Rent VS Buy: Finding the RIGHT Answer

Rent VS Buy:

Finding the RIGHT Answer

Rent VS Buy ... which is better?

Seems everyone has an opinion on this debate. Pro and Con. Especially when rates are low.

But truth is, no one but the person(s) considering this question has the "right" answer. Or at least what's the "right" answer for them.

It's also true: Facts, emotion, and gut feeling weigh into the making of the decision reached. Or not so final ... as timing factors into this decision-making too. The "right" answer can often be just a temporarily right one.

So, with all the factors mentioned above playing into the decision-making process, just where and how do you start it?

The right answer to that question is: You should start by doing some simple homework.

To make that easier to do, I've provided some handy tools for you on my website. Just click HERE to find a host of calculators that will help during the early stages of your decision-making process.

After gathering some info ... and when you decide to move to the next step ... home buying ... it's time to get serious. During this next step, you need to ...

Evaluate Your Options

To accomplish this: It's best to list the pros and cons of buying and renting as they pertain to your life and financial scenario.

Keep in mind: No two lists look the same, as everyone is considering and weighing their own personal pros and cons.

But the following infographic provides you some suggestions of those things you might want to consider while making your decision:

As you'll note: There's one glaring omission to the above infographic. There's no mention of personal finances.

This important next step in your fact-finding needs to include me, your Loan Officer.

After answering some questions, I'll be able to provide you an analysis of your credit/financial standing, a synopsis of the financing options available to you should you hope to buy, and the feasibility of your successfully securing the financing you need to do so.

Only after this evaluation is concluded, can you seriously weigh "Rent VS Buy" and make the best decision for yourself. The decision that will be "right" for you both in the short and long-term.

The "right" answer to your Rent VS Buy question is answered with your taking a series of steps and doing some fact-finding. And yes, some soul-searching too.

The answer becomes clearer the more facts you have and the more you know about your finances, options, and desires. Each step is fairly easy to take ... and I'll be there to help and guide you every step of the way.

To discover what's possible. To answer your Rent VS Buy question, contact me today ...