All Posts Tagged: rent

Is it better to rent or buy?

Victor Polich
Mortgage Banking

The choice between renting a home or buying one is one of the biggest (and most challenging) financial decisions many of us make in our adult life.

woman sitting near a window, pensive.The implications that come with buying a home are more varied and complicated than for renting, and it may be hard to decide which route to take. Everyone’s situation is different, but hopefully the quick considerations below may help you make a decision that’s right for you.

3 reasons to rent
  • Generally cheaper. Depending on the house, rent may cost you less per month than a mortgage.
  • Moving is easier. You have more flexibility in case you need to move, especially if your lease is flexible or month-to-month.
  • Landlord usually makes repairs. In addition, the landlord is responsible for the upkeep.
3 reasons to buy
  • You may build equity. Should your home appreciate, or as you pay down your mortgage, the value of your home may increase.
  • Potential tax benefits. You may be able to write off your mortgage interest or your property taxes, but you should always consult a tax professional regarding the deductibility of interest to make sure.
  • Pride of ownership. The pride of having your own home can be very motivating; you have the ability to take that house and make it your dream home. Paint it whatever color you want!

Before making your decision, you should also consider the economy, the cost of property taxes in your county, and where you are in life and/or career.

There are definitely pros and cons to both renting and buying, but my hope is that you take something away from this and do what works – and feels – right for you.

 

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A recipe for the millennials’ American Dream

Paul Appleton
Consumer Banking
Young couple pausing from their meal at a kitchen table to take a selfie.

It’s as if this generation took some of the classic elements of the American Dream and added several twists, building a whole new recipe.

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Numbers Count: Rent hikes projected to slow in 2016

Posted by
view looking up at a high-rise apartment building with many of the windows lit up.

Here’s my take on the key numbers on the housing market this week.

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In the Market: We’re not gonna take it

Nneka Madus
Posted by Nneka Madus
Mortgage Market Analyst
Couple standing on opposite ends of a large moving box, bent over with their heads in the box.

Before jumping the gun, read some potential pitfalls on moving in before closing the deal.

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Numbers Count: How rising rates may affect mortgages

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Two women, one holding a tablet, looking up at a white two-story house with upper and lower balcony/porch.

Here’s my take on the key numbers on the housing market this week.

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