Deciding whether to rent or buy can be a tough choice, and there’s no one-size-fits-all answer. It ultimately comes down to what makes sense for your lifestyle and goals. Take this short quiz to help you weigh the options and determine which path is right for you.
Tally up your answers. If you answered mostly A’s, homeownership might be the right option for you. If you answered mostly B’s, renting may better suit your lifestyle for the time being.
If you want to buy a home, the most important question to ask is if you can afford it. Let’s schedule a call to go over your finances and discuss whether you’re financially ready to take the leap into homeownership. Even if you don’t feel ready right now, I can help you understand what steps you need to take to get there.
*With a fixed-rate mortgage, the monthly principal and interest payments are fixed. Changes to your taxes and insurance costs may cause your monthly mortgage payment to increase or decrease each year.
**Survey of Consumer Finances, September 2020