The difference between buying and renting a home

It can be hard to make the decision to buy rather than continuing to rent, especially when interest rates started going up instead of down. Mortgage rates have come down a bit since last year’s peak, but with home prices continuing to rise affordability can be an issue and low inventory can make it hard to secure a home to buy. In addition, when you rent you don’t have to worry about fixing the furnace or replacing appliances or any kind of maintenance. You also don’t have to worry about selling your home if you move to another part of the country or world… or even across the metro. But even finding a new place to rent can be a challenge if you move.

Long-term, buying can be a good option in spite of the challenges. The infographic below gives some important factors to think about in your deliberations.

Download free… “Things to Consider When Buying a Home Winter 2024”

Infographic… Why It’s More Affordable to Buy a Home This Year

Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com

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I love what I do! Highly insightful, analytical and creative, there is nothing I love more than helping you find the right solution for your real estate transition. My mission is to serve my clients with honesty and integrity, exceeding their expectations in service and support… and to help others by donating a portion of every transaction to Habitat for Humanity.

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