One of the most comprehensive looks at the renting vs buy question we’ve seen. Colin Robertson from The Truth About Mortgage presents his exhaustive list in a easy-to-digest format that will give you plenty of food for thought.
It has been far too long since I’ve written a mortgage match-up, so without further ado, here’s a biggie: “Renting vs. buying.”
This is certainly an intimidating question, and one that’s difficult to sum up in one post, but I’ll do my best to cover as many pros and cons for each as possible.
First and foremost, there is no universal yes or no answer to this question seeing that real estate is constantly in flux and extremely local.
These days, home prices are well off their recent (ridiculous) highs and mortgage rates continue to break new record lows, which is surely making many renters salivate at the notion of homeownership.
After all, if you can buy a home for $100,000 less than your future neighbor while also snagging a mortgage rate several percentage points better than theirs, you’d be in pretty good shape, right?
That’s the hope, barring a complete implosion on the economic and housing front.
But nothing is ever that easy, is it? With homeownership comes responsibility, while renting may be relatively carefree. Read the full article on thetruthaboutmortgage.com