Is it better to rent or buy? Below are some of the most common questions we are asked regarding this topic.


What are the advantages of buying a home instead of renting?
  1. Interest rates are low right now and rents are very high
  2. Lower monthly payments and tax benefits
  3. You can build equity over time which can than roll into your next home
  4. Owning a home is an investment, rent payments are money spent with no future investment benefits

I don’t think I have enough saved for a down payment. How can I purchase a home now?

  • If you have good credit, you can purchase a home now with as little as a 3 ½% down payment on various loan programs.
  • Most loan programs allow a “gift” contribution to a down payment. This can be from friends, family etc.
  • If you don’t want to “borrow” money, you can set up a private loan pay back schedule as more money is saved.

What if I don’t think I want to stay in this area forever?

  • As long as you buy a property that is in a good location, particularly for public transportation, you can rent it out in the future and pay off the monthly costs with the rent while building equity.
  • Equity can be built by paying off loan principal or by increasing value of the property.

I don’t think I can afford anything in this area…

  • The first order of business is to speak with a lender and get pre-qualified so you know exactly how much you can afford and are comfortable paying on a monthly basis. There is no charge for this and we can refer you one of our preferred lenders.
  • Once you know how much home you can afford, we can help you to by doing some searching in the areas that interest you.

We can help first time home buyer’s and others that have been renting for various reasons decide if they are ready and able to take the leap and purchase a home.