Buying vs. Renting

As you drive around our F-M community you can’t help but notice all the new construction taking place.

Commercial sites, schools, apartment complexes and residential homes are being built in multiple locations.

Real opportunities and economic growth abounds. What an exciting and prosperous time to be living here!

Only 15 years ago our area was seeing an out-migration of our talented workforce, but not anymore. Investment in education, business and a committed labor force continues to drive our population growth while creating a very stable and diverse economy. If you are one of those looking for a place to live you may be asking yourself, “Should I purchase a home or should I rent? Depending on your current situation the answer may be different. So, let’s look at some considerations to answer the question:

Renting:

Convenience – requires little or no maintenance.

Stability – do you expect to live or work in the area for longer than three to five years?

Savings – most home loans require a minimum 3 to 5% down payment of the purchase price.

Needs – what are your personal or family priorities regarding your wants and needs?

Buying:

Commitment – you would enjoy making your own decisions towards your property.

Investment – home ownership is a long term equity builder.

Edge against inflation – your monthly payment is more stable long term.

Appreciation – our community has a long history of increasing home values.

As you make this decision, consider asking for advice from a real estate professional, such as myself. A Realtor will have the experience, knowledge and guidance necessary to assist you in making a sound decision.

If you would like more detailed information about this topic or residential properties, please email me at pkrabbenhoft@gmail.com. I look forward to helping you. Your email and name will always be held in full confidence.

Next week… I look forward to bringing you more “Speaking of Real Estate” when I will share exciting news about “The Extra” newspaper.

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