<!-- function MM_preloadImages() { //v3.0 var d=document; if(d.images){ if(!d.MM_p) d.MM_p=new Array(); var i,j=d.MM_p.length,a=MM_preloadImages.arguments; for(i=0; i<a.length; i++) if (a[i].indexOf("#")!=0){ d.MM_p[j]=new Image; d.MM_p[j++].src=a[i];}} } function MM_swapImgRestore() { //v3.0 var i,x,a=document.MM_sr; for(i=0;a&&i<a.length&&(x=a[i])&&x.oSrc;i++) x.src=x.oSrc; } function MM_findObj(n, d) { //v4.01 var p,i,x; if(!d) d=document; if((p=n.indexOf("?"))>0&&parent.frames.length) { d=parent.frames[n.substring(p+1)].document; n=n.substring(0,p);} if(!(x=d[n])&&d.all) x=d.all[n]; for (i=0;!x&&i<d.forms.length;i++) x=d.forms[i][n]; for(i=0;!x&&d.layers&&i<d.layers.length;i++) x=MM_findObj(n,d.layers[i].document); if(!x && d.getElementById) x=d.getElementById(n); return x; } //-->

 

Intero Real Estate Services
175 E. Main Avenue, Suite 130
Morgan Hill, CA 95037

Direct: 408-201-0160
Mobile: 408-623-1192		  
 


Most folks interested in real estate have been led to believe that BUYING property is the only way to go; building equity and reaping tax benefits appear to be the only considerations in many cases.

The truth is there are advantages to both buying AND renting.
 
 


According to an article in The San Jose Mercury News (February 14 th , 2004 sec. G), buying a home makes sense for people who:

  • Plan to stay in there homes for at least two to four years
  • Can afford the monthly mortgage payments, insurance and property tax fees
  • Are reasonable sure their income and/or employment are secure
  • Are ready to accept/absorb repair and maintenance costs
  • Are aware that home ownership may mean compromise, in that the home you can afford may not be as big as you want or its' location may not be where you want

In general, renting is a good idea for those who:

  • Think they may want to leave the area in less that two years
  • Like the flexibility of being able to move easily (think frequent job relocation)
  • Like the lack of responsibility for major upkeep and maintenance
  • Don't have the cash flow for mortgage payments, insurance and property taxes
  • Don't want to or can't reduce other high cost monthly obligations, like frequent travel or private school tuition
 
 
Note the lack of “No Down Payment” as a reason to rent; with all the lender programs available to individuals in all types of income brackets, virtually anybody can “get in the door” of a home purchase.

People site various concerns for trying to buy over renting, including the ongoing knowledge that SOMEONE ELSE owns your living space.

Another obvious concern is the fact that, as a renter, you receive nothing when you leave a dwelling.  

 

These concerns, say financial planners, must be put in prospective: think about WHY you are choosing to live in a particular place and weigh the financial benefits of both renting AND buying before you decide which route to take.

Several “rent vs. buy” calculators [ www.mortgage-calc.com ] are available online to help you get ballpark figures with regard to your best individual financial options.   However, it is always best to talk with a qualified accountant or financial planner before you decide on the best course of action for you and your family.

 

 

For any questions or comments contact:

 Barry Brady
Direct: 408-201-0160 : Mobile: 408-623-1192 : Fax: 408-273-6927
E-mail: BBrady@InteroRealEstate.com
Intero Real Estate Services


» Back To Top

 
 



 
18600 Castle Ridge
Drive
Morgan Hill, CA 95037
 
 

Information deemed reliable but not guaranteed to be accurate.
© 2004 Realty Impact Marketing.  All Rights Reserved. | Disclaimer
Site Powered By Realty Impact Marketing.