Housing Market: RENT or BUY?

There are many factors that need to be considered in order to make a sound decision.
Let's stay positive and just weigh the PROS. The cons become obvious.

PROS to Leasing/Renting: 

Need  more room, a swing set, sand box, pumpkin patch...? 

• Maintenance is minimal or non-existent and not your problem. A respectable landlord steps up and tackles any of the household and yard needs. 
• There are cheaper up-front costs to get in the door. Leasing typically does not require a large deposit.
• You can buy time to build your credit or credit status.                                           Or build your dream house.
• If it's not a "buyers' market, leasing enables you to bide your time until it is.
• Leasing gives you move-out flexibility and options without loss of equity. You are a job hopper or in high demand? Waiting to have a family didn't quite work out and it's triplets? Just can't live with those neighbors or CC&Rs? In some other life transition? Move on!

PROS of Buying:

• No more landlord... You own the home and can decorate, tweak, and put your personal mark on it. You bought if for all the reasons that are right for you and your dream has come true. It is a very prideful and momentous milestone in one's life. Build a sandbox, plant a garden, pour a fire pit, add skylights because the sky is the limit, within your building codes, HOAs, CC&Rs and other such variances, that is!
• You have equity in your home and a well-timed purchase will appreciate in value over the years.  Payment made on the principle of your loan is an increase in the amount of your home.
• Your mortgage is a fixed, predictable amount so you can do some financial planning involving the next 30 years. Rents are guaranteed to go up and perhaps unpredictably.
• Tax breaks like no income tax on the sale of your home when the time comes make owning attractive.

Life happens. Making the right decisions can make it all a lot smoother, easier and more manageable.
Call me with questions or thoughts,
Rick Bennett, Your Boise-Area Realtor
208-407-0532
www.id-buyrealestate.com