Renting a Rancho Cucamonga Home
Rent vs Buy
Is Buying or Renting Right For You and Your Family?
Buying or renting may be the biggest financial decision most of us ever make.
Immediately after the housing crash, if you were in the financial position to do so the answer was crystal clear – a Resounding . . . Buy Now!
But as Southern California home prices go on the rise, the answer to Rent or Buy is not so clear. Today’s would-be Homebuyers are weighing the higher prices against the still record low interest rates and wondering whether now is the right time to take that leap.
The decision to buy or rent is a big decision that requires a lot of homework, discussion and evaluation. Homeownership is not necessarily right, or good for everyone.
Both options have their own set of benefits that you need to carefully consider before making your decision.
Buying a Home
While owning a home comes with a lot of financial responsibilities and personal commitments, there are benefits. Not just providing shelter, but it’s a chance for your family to build long-term financial security and independence.
Renting a Home
Despite homes being relatively cheap and interest rates being historically low, almost a third of So California families still rent today out of personal choice or financial ability. Reluctant Home Buyers tend to site their desire to live in an area that is more affordable to rent than buy; tight lending requirements, high student debt, an unsettled job market or plans to downsize or retire in the near future as reasons for continuing to rent instead of buying.
Deciding between the flexibility of Renting and the potential long-term payoff of Buying ultimately depends on your financial situation, your future plans and your lifestyle.
Buying or renting – which route is right for you?
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