09 Aug To Rent or to Buy, That is the Question!
In today’s economy, it can be difficult to decide whether to rent or buy your next piece of Hinesville real estate. There are certainly pros and cons when it comes to renting vs. buying, but those pros and cons are typically based on your needs as an individual or family. If you are indecisive as to whether you should rent or buy, keep on reading for a couple of factors that may help sway your decision.
Length of time you plan on spending in the property – Usually, when somebody is looking at Hinesville homes for rent, it is because they know that they will be spending less than three years at that property. Folks who are deciding on whether or not to buy a home should take note that selling a home within three or four years of purchase will probably not get the return on investment that they were looking for, and those folks may lose up to as much as seven percent of the money that they put into the home, simply through the cost of selling.
The bottom line is, if know that you will be in Hinesville for a relatively short amount of time, it may be wise for you to consider renting over buying. However, if you know that you will be spending time raising a family or occupying Hinesville for several years, your best option may be buying.
Maintenance Issues – You should know that the price of taking care of maintenance issues will most likely go up when your purchase a home. This doesn’t necessarily have to be an issue, as long as you are prepared to put away around 1 percent of the worth of your home to cover these necessary maintenance costs, according to many home buying experts.
If you aren’t prepared to take on that extra cost, or you simply do not want to have to deal with the hassle of fixing maintenance problems on your own, you may want to consider a rental property.
These are only a couple of factors to consider when making the decision on whether to buy or rent Hinesville real estate. If you have more questions about renting vs. buying, we would be happy to speak with you in person at our offices or on the phone. Making this decision is an important one, and we’re here to help you through this process as best we can.