Should you rent or buy?
Well, there are certain situations where you’re far better off renting. For example, if you’re moving to an area and only plan on being there for a year or two, you should rent a house. However, if you know you’ll be in a certain place longer than that, you’re better off buying.
Some people worry about the ups and downs of the oil industry and how it affects home prices, or whether they’ll lose money later on, but keep in mind: Homeownership always trends upward. On the other hand, if you rent for three years at $2,000 per month, you’re guaranteed a loss of $72,000. Rarely will you lose that much money on any home that you purchase.
Think of it this way: You’re guaranteed to lose money in the long term by renting, while you’re guaranteed to make money by buying. It all depends on your timeline.
If you’d like to talk more about renting versus buying or another real estate topic, don’t hesitate to reach out to me by phone or email. I would love to help you.