The truth is, there’s no one right answer or one size fits all when it comes to determining whether to rent or buy a house. There are a number of considerations you must make when making this decision. Renting and buying both present a number of pros and cons, and your own financial situation and personal preference may be the biggest factor of all.
Pros & Cons of Renting: Despite the fact that you can’t build equity, renting offers you the most freedom and flexibility, especially if you are on a month-to-month lease.
Pros & Cons of Buying a Home: Homeownership is not for everyone, but there are some financial and emotional advantages that can be enticing.
Initially, renting is almost always cheaper than buying but in the long run (often after 3-5 years), buying is more affordable depending on your local market, income, tax situation and current financing costs.
If you want us to help you determine whether renting or buying is a better choice for you in the Greater Seattle Area, please contact us for a free, no-obligation consultation.
Kerstin Brooks & Krisanne Heinze
Brooks & Heinze Seattle Real Estate Team
Skyline Properties, Inc.
Phone: 206.276.5827
Email: info@propertyinseattle.com
Kerstin G. Brooks, Broker 