If you need assistance, please call 952-200-9461

HOMEBUYING: RENT OR BUY? ASK THESE QUESTIONS FIRST:

Saturday, August 22, 2020   /   by Sally Scrimgeour

HOMEBUYING: RENT OR BUY? ASK THESE QUESTIONS FIRST:

Renting vs. buying: Where do you land?


You’ve always been told that owning a home is the ultimate American dream. 

Imagine renovating your master bath into a mini spa or choosing your favorite appliances for your dream kitchen. Or just getting to repaint whatever room you want. Plus, there’s the potential for financial gain when you own.

 

But renting has its own advantages: flexibility, a smaller financial commitment and the chance to try before you buy.

 

So when do you know it’s time to take the plunge on a purchase? Answer these questions to see which side of the rent vs. buy debate you might land on:

 

Why do you want to buy? Sure, owning a home might be the great American dream — but is it your dream?


For some, the idea of a home where you can raise a family, be close to schools and build a community is enticing. For others, buying is a great investment. But for many, it’s about freedom: the ability to keep pets, renovate and be independent.


Will you stay in the area? No one has a crystal ball — but knowing how long you plan to live in an area can help as you consider the pros and cons of buying. Generally, longer stays align with purchasing. 

If the thought of travel fills you with more passion than the idea of settling down in your dream property, you may not be ready for your forever home. But there’s always the possibility of turning your house into an investment property. 

 

What can you afford? While renting usually costs less in the short term than purchasing property, owning a home can build long-term net worth. A rent vs. buy calculator can help you understand the costs of each option.

 

Don’t have the deposit for your dream home now? That doesn’t mean you can’t buy. We can work together to find affordable homes, and there are plenty of low or no down payment mortgage options.

 

Have questions about buying or financing your purchase? Let’s discuss your next steps. 


  buyers, realestateinvestment, realestatevalue, newhome, homebuyers, rentingvsbuying

The Scrimgeour Group
Sally Scrimgeour
11455 Viking Dr
Minneapolis, MN 55344
952-200-9461

The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Coldwell Banker Burnet are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright2020Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated November 24, 2020
The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Sally Scrimgeour - The Minnesota Home Selling Team / Coldwell Banker Burnet are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright2020Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated November 24, 2020
This site powered by CINC: www.cincpro.com