Matt's Real Estate Blog

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Renting vs. Buying: "The Talk" you should have with yourself.

We've all been there.  You're either still living with family or renting a place that reminds you everyday that you don't own it.  Every time you stare at the white walls or sleep in the same room you grew up in the questions crosses your mind:

Should I finally "grow up" and buy a home?

Well, it's actually not as straightforward as you think.  If you're not ready emotionally and financially to take the path of home ownership, the emotional and financial strain can easily outweigh the home ownership experience.

A home is something to be enjoyed.  If you strictly look at it from an investment standpoint you will more than likely not a home that you like and it will be a decision you'll regret.  Part of the fun of owning a home is personalizing it and being able to choose the specific things you want (appliances, flooring, paint, etc.). 

Ion the same token, if owning isn't possible or just not in the cards, it's always a good idea to keep your option open.  Budget you money so you can save for a down payment and start seeing if the are you want to settle down is what you like and financially feasible.

My last point (and this I can say from personal experience), the younger you are when you purchase you first home the better it is in the long-run (not to mention you'll be the envy of all your friends who still rent).

Comment balloon 0 commentsMatt Wilkins • July 20 2008 01:41PM
Renting vs. Buying: "The Talk" you should have with…
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