Renting Vs Buying

Renting Vs Buying

Everyone needs a place to live. But when considering where to live one must first consider whether they are going to rent a place to live or are they going to buy a place to live.  Over the next few months I will take you through the pros and the cons of renting and buying which will hopefully help someone make the right decision for themselves. Please take into consideration that a person’s feelings and commitment level is a grand factor to making decisions and no matter the outcome of the facts the smarter choice for them may not be the smart choice for you.

Unfortunately, first we must debunk some things people may think about buying a home. First and for most is that a mortgage payment is not set in stone. They are as different as the people that pay them. Depending on your budget and the amount you wish to pay each month will dictate the cost of your mortgage.  Picking a mortgage is just like picking a rental payment.  The only difference is you are discussing the mortgage payment with a financing officer versus a landlord or rental office.  Just like figuring out how much rent you can pay by adding up you bills and utilities, you should do the same thing with a mortgage payment. Included in your mortgage will be your yearly property taxes and insurance. As a result, that will dictate how much you can offer on the purchase of a home of your own. Therefore, no matter what you are paying for rent right now, you can take that same payment and apply it to the purchase of your own property because money is not a barrier as long as you have an active budget for housing.

Debrah Byrd Headshot
Phone: 757-714-7393
Dated: September 14th 2017
Views: 86
About Debrah: ...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

When You Should Use Your VA Loan Benefit - the Hampton Roads region is home
How Long Does The Average Home Owner Live In Their Home - The National Association of
Jun 25 2018 61032 1 - You do not need 20% down to buy a
2018 Spring Market Hampton Roads Southside New Construction Homes - Picking a new home is hard,

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Abrams Realty
4640 Shore Drive, Suite 113
Virginia Beach, VA