Rent Or Buy - Which Is Better?
Maryland Real Estate
This is a question that I get asked many times in some form or another.Usually, it comes from young couples that are just starting out are wondering?
Rent or Buy? Which is better?
The problem with this question is that there is no standard answer that fits everyone..
It depends on many personal factors that when put together, it will paint a clear picture whether you should buy or rent...
Some of this personal factors include,
What is your monthly income?
What about your existing debts?
How long do you plan to live there?
How much money do you have saved up for the down payment?
What is your credit score?
What is the current real estate market in your area?
What is the current rental market in your area?
Taxes?, marital status?, economic growth of your area?
and on and on..
If you’re serious on your decision to buy a home, you should consult with a professional that have a vested interest in helping you succeed.
Millennial is a new term for new age buyers coming into the real estate market
They have seen with their own eyes the real estate bubble that exploded on their parents homes in the 2005 -2007 real estate crash
Precisely why they are now questioning more than ever...
But my advice will always be...
Should you make a decision to buy or not based on what your parents experienced in the past?
Base it on what your needs are on your personal future?
When does buying a home makes sense?
When it fits your plans!
Rent Or Buy - Which Is Better? Maryland Real Estate