Real Estate Market for Buyers: Questions and Answers, Part 3

Part 3 of my series, Real Estate Market for Buyers is all about renting vs buying.  Q:  Does it make more sense to purchase than rent?

A.  The answer lies with you.  Align your decision to purchase a home with YOUR life, not with the market.  Surveys have shown that the main reasons people purchase a home are the following:

  1. a place where their family will be safe
  2. a place to raise and educate a family
  3. control over living space
  4. plenty of living space

The non-financial benefits of owning vs. leasing lie in your answers of life over the real estate market.  The bottom line is that the cost of a home will probably remain relatively unchanged, even if prices do continue to drop in your area. The market should not be the only factor driving your decision.  At the end of the day, the answer is, “what’s best for me and my needs?”  

 

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