“Purchase vs. Renting”

“Purchase vs. Renting”

 

 

 

 

 

 

Good morning Joe,

I’ve been thinking for a long time about buying a home vs. renting but with my student loans I’ve been hesitant. I’m unsure what I can realistically afford. I was hoping you could help me figure that out. Also, I was even considering trying to get a foreclosure property and fixing it up - I know there are certain mortgages that will add the cost of construction/repairs. I just want to start by understanding what I can even afford which I know isn’t a large amount.

Thank you for your help,

Katie

 

 

The topic of renting vs. purchasing a home is a question that many ask themselves. I wish there was a simple answer, but there is not.

 

Katie is wise to reach out and ask a professional to review and discuss the pros and cons. After a one-hour conversation going over the cost to rent a home that would fit her needs and how much a mortgage payment would be, she is now house hunting.

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 6 commentsJoe Petrowsky • November 08 2018 07:34PM

Comments

Good morning, Joe Petrowsky buying vs renting....this is where you shine... call Joe and get the truth...

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) 5 days ago

This debate has been going on for ever and each time owning always comes out as the best option. The logic is you are paying a mortage;  its either yours or your landlords. You do have a choice!!!

Posted by Sham Reddy, CRS (H E R Realty, Dayton, OH) 5 days ago

We need to keep helping people understand that home buying is possible - and less expensive than renting in the long term

Posted by Lise Howe, Assoc. Broker and Attorney Licensed in DC, MD, VA, (Keller Williams Capital Properties) 5 days ago

Good morning Joe. If you have to ask, you can't afford not to buy in the long run! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 5 days ago

In my area it is much cheaper to buy than to rent.  You can buy for about 20% less of a monthly payment

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) 5 days ago

As long as it makes economic sense and they can accept responsibility of being a home owner it is a good choice.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) 5 days ago

Participate