Realtor Advice: Is It Better to Buy or Rent a New Property

Even with the best real estate agency at your side, it can sometimes be difficult to determine exactly what you should do. Many people believe that they’re actually better off renting a home when moving, while others feel it is both more fulfilling and advantageous to buy.
What is the best course of action to take, and which option should you choose when faced with the prospect of either searching for a new real estate purchase or renting a house?

We spoke with a Realtor in Margate FL to get an idea of what potential advantages or disadvantages people have with purchasing or renting a home. We also wanted to get an idea of anything people need to be careful of. Here’s what we found out.

The Superior Advantages of Buying

When buying a new home, you’re basically starting a new life for yourself and your family. Getting the chance to find a good home purchase in a neighborhood of your choosing and at an attractive price can, in those terms, provide numerous advantages you can look forward to when purchasing the home with the help of a good realtor:

  •  First of all, one of the main advantages of buying a property is that you’ll end up owning your own home and benefiting from equity, security and the possibility for increased personal wealth.
  •  As a homeowner, you have full control over what you can do with the property. You will be able to make creative modifications and even add extra rooms or tear down walls.
  • Over time, the value of the home will grow, so you can earn a profit if you decide to sell it eventually.
  • Mortgage payments made on time can actually improve your credit score.
  • Income-generating properties can bring about tax deductions which can end up helping you save money in the long run.

It may be true, of course, that renting allows for more flexibility and easier moves, while you won’t be the one having to deal with maintenance work and insurance matters if the need arises.

However, as a tenant, you are bound to follow the rules set by the owner, and you cannot modify the house in any way without express permission. Moreover, rental prices can be influenced directly by inflation, and the fluctuations involved can be quite high on a yearly basis.

The Easiest Way to Handle the Process

An experienced real estate agent can provide you with easy, hassle-free ways of acquiring your new home, whether you’re looking to buy or rent.

While real estate has become a complicated process with a lot of legal matters, fees, inspections and various other issues to keep into account, people who use the services of a well-established real estate agency have the best chance of getting better deals and ending up paying less on mortgage or rent in the long run.

Special thanks to The Dustin Miller Team of Fort Lauderdale, FL for help on this article.

Guiding Our Community One Home At A Time