Should I buy or Rent?

Posted 4 years 249 days ago ago by SuperUser Account

At one time or another, we’ve all asked the question, should I buy or should I rent, and fortunately or unfortunately depending how you look at it, there is no one size fits all answer.

This question is a bit loaded in that it really is multiple questions tied in one, which are:

1. Emotionally do I want to buy or rent?
2. Financially is it in my best interest to buy or rent?

As the emotional component of any subject requires careful physiological investigation, I’ll leave it for another time and focus on “Financially is it in my best interest to buy or rent?”. Yes, in this case I’m taking the path of least resistance. But before I move on, I want to encourage all realtors out there to make sure that you understand your client’s emotional needs as it relates to buying and selling, you’ll find that in most cases that the emotional needs and or desires will trump the logical ones, and they will serve you well if you understand what they are.

As of the writing of this post, in my opinion if you are financially able, it makes more sense to buy vs. renting. You’d be hard pressed to find a 3 bedroom, 2 bath house for rent for $1,500.00 or less in my local area. When using a buy vs. rent calculator such as the one located here at smartasset https://smartasset.com/mortgage/rent-vs-buy#9Aitm7x5Fi you’d see that it would only take 4 short years for the purchase of a $250,000 house with 5% down to make more financial sense to buy than to rent taking into consideration today’s rates and other economic factors.

Lastly and personally, the biggest advantage of owning vs. renting is the fact that once your loan term has been completed if financed, your monthly obligation to maintain your home is significantly reduced whereas your rental cost will not just stay the same, it will increase and have a damaging affect on your fixed income, or worst yet, require you to continue working past your retirement age simply to pay for your cost of living.

“Together, let’s make Pasco County great!”

Recent Articles
Strategic Default 5 years 64 days ago
Mortgage Help Extended! 5 years 58 days ago
Goals, Goals, Goals, and more Goals 5 years 56 days ago
I'm still here.... 5 years 34 days ago
Needs vs. Wants 4 years 289 days ago
Is your personal residence an Asset or a Liability? 4 years 287 days ago
Interest Rates 4 years 268 days ago
Should I buy or Rent? 4 years 249 days ago
Local Real Estate News

Study: ‘Zoom Fatigue’ Is Real – But This Can Help

Tue, 2 Mar 21 14:03:53 +0500

Some conditions make Zoom meetings more tiring than face-to-face meetings: Lack of mobility, added work to read nonverbal cues and way too much up-close eye contact.

Future of Short-Term Rental Investing? App Going Worldwide

Tue, 2 Mar 21 14:03:48 +0500

An app debuting in June seems to be a mashup between crowdfunding, dating and short-term rental investing. Users can invest in property worldwide using only a smartphone.

Cash-Paying Out-of-Towners Frustrate Local Fla. Buyers

Tue, 2 Mar 21 14:03:42 +0500

Brokers are getting more calls from out-of-staters, and the demand isn’t limited to Fla.’s traditional feeder markets. It adds yet another challenge for local buyers.

Unhappy with the Eviction Ban? A Federal Judge Agrees

Tue, 2 Mar 21 14:03:20 +0500

A federal judge ruled the eviction ban is unconstitutional and has never been done before – but he didn’t issue an injunction stopping it, and DOJ says it will appeal.

Has Real Estate Been Good to You? Return the Favor

Tue, 2 Mar 21 14:03:17 +0500

Industry-changing ideas start as a suggestion proposed during a Florida Realtors committee meeting. Be part of the change. Apply to serve with Pres. Christina Pappas in 2022.



Cecilio (Tony) Thomas

Future Home Realty

13029 W. Linebaugh Ave

Suite 101 Tampa, FL. 33626



"Your neighborhood Realtor..."