Should You Rent or Buy?
When it comes to deciding whether you should buy a home or continue renting, there are a lot of factors to consider. Considering the many factors can leave you feeling overwhelmed and even more unsure which option is financially best for you and your family. At Middel Realty, we understand this can be a difficult decision, and today, we’ll review a few questions you can ask yourself as you begin to think about your options.
If you’re a Fort Collins resident or you’ll soon be moving to the area, Middel Realty has your rental needs covered. We offer a wide variety of high-quality rental properties for our customers to choose from, and if you decide to rent, we have real estate professionals on staff. View our rentals online and contact our team today to learn more!
Questions to Help You Decide
If you’re on the fence as to whether it is more wise for you to buy a home or rent a home, there are a few questions you can ask yourself to help make the decision easier, and we’ve reviewed them below.
What Type of Monthly Payments Do You Want?
Historically speaking, monthly rental payments are typically lower than mortgage payments. I*We’ve f you’re unsure whether or not you want to take the plunge into homeownership, it might help to consider how much you’re willing to spend monthly on housing.
How Long You Plan to Stay?
If you have no immediate plans to relocate and you have a steady and reliable source of income, buying a home may be more advantageous than renting one if you can financially swing it. When you purchase a home, the up-front fees are spread out over several years.
How is the Current Market?
You may have heard the terms “buyer’s market” and “seller’s market” before. These terms describe whether the current real estate market is more advantageous for buyers or sellers, and if the inventory of homes for sale is greater than the demand from buyers, you may find an unbeatable deal on a home to purchase.
What Kind of Property Taxes are Involved?
Property taxes and closing costs can be one of the most intimidating factors when you’re considering buying a home, partly because they can be unknown for the most part. While there are significant taxes involved in buying a home, remember they are tax deductible.
Can You Afford the Maintenance and Fees of Owning?
There are many recurring expenses involved in home ownership that you may not experience with rental properties. Beyond the mortgage, you have homeowners insurance, Homeowners Association (HOA) fees and dues, yard maintenance fees and more. These are all important to consider in the potential expense of owning a home.
Rental Properties in Fort Collins
If you have decided that renting a home is your best option for the time being, Middel Realty would love to help you find the next place you call home. We specialize in providing clean, high-quality Fort Collins rental properties to those who choose to reside in the Choice City, all with the convenience of online payments and easy-to-understand leases. Call our team at 970-221-2300 today to get started!