One of the most common questions asked of real estate professionals is, “Am I better off buying or renting a home?”
The answer largely depends on your circumstances. There are certain situations where you’d be far better off to rent a home as opposed to purchasing one outright. That might sound crazy for a real estate agent to say, but it’s true! For example, if you’re moving to a new area where you only plan to live for two years or fewer, then I’d seriously consider renting.
However, if you’re moving to a new area where you know you’ll live for three years or more, I know some people who are thinking of buying a home are really worried about the ups and downs of the market or whether they’ll lose money when it comes time to sell later on, but here’s the thing: In the long-term, homeownership always trends upward.
If you were to rent a home for three years and pay $2,000 per month, you’re guaranteed to lose $72,000. On the other hand, it’s very rare in the Greater New Orleans Area that you’ll ever lose $72,000 on any home that you purchase. Put another way, renting over the long-term is a guarantee that you’ll lose money, whereas purchasing a home is a guarantee that you’ll make money over the long-term.
Here’s my home buying guarantee: If you buy a home from me and aren’t satisfied with it after 12 months, then I’ll help you sell it for free.*
I also have a home seller guarantee: If I don’t sell your home in 45 days or less, I’ll give you $1500.*
*Conditions apply.
If you’d like to talk more about the subject of renting versus buying or any other real estate topic, don’t hesitate to reach out to me. I’d love to speak with you.
