Renting vs. Buying?
Which is better?
Maybe you’re in the process of selling your home and you’re wondering whether it’d be better to rent or buy…
Well, at RIDE Property Solutions, we’ve been helping home sellers get a fair cash price for their home in Utah County for quite some time. Over the years, we’ve seen the pros and cons of both buying AND renting.
So we thought we’d take a moment to share those pros and cons with you.
- No Property Taxes
- Not Stuck With Depreciating Home
- Repairs Are Paid For
- No Down Payment
- Rent Annual Increases
- Doesn’t Build Equity
- Can’t Customize Property Without Owner’s Consent
- Builds Equity
- Lower Monthly Cost For Larger House
- Pride of Homeownership
- Customize Your Living Space
- Pay For Maintenance
- HOA Fees
- Large Down Payment Upfront
- Risk Of Decreasing Value
- Property Taxes
In our opinion, buying is a good idea if you can afford the down payment and don’t mind taking on the risking of OWNING the asset, while renting is a good choice if you can’t afford the down payment and/or don’t want to be responsible for the value of the asset.
Hopefully, you now have an idea of whether renting or buying is a fit for your needs. If you need to SELL YOUR HOME, however, then give us a call at (801) 790-4888 — we specialize in helping people sell their homes fast and as-is for a fair cash price!