How to Figure Out if Buying Outweighs the Benefits of Renting

It might shock you to hear a Realtor say that maybe, just maybe, you are better off renting; yet the question continues to nag: should you buy or rent a home?

Because agents are in the business of selling and buying real estate, you might not get a straight answer from a Realtor. A few handle rentals, but most would rather sell you a home. So, you might not get a lot of help if you ask a Realtor whether you should buy or rent. Most agents would tell you to buy.

A few questions you might want to ask yourself are:

1. What is the condition of my credit report?
2. How high is my FICO score?
3. How secure is my job?
4. Am I willing to tackle home repairs?
5. What is the ratio between existing rents and a mortgage?

Not everybody should own a home . . . read more about Buying versus Renting.

More Articles by Elizabeth Weintraub:

• Benefits of Owning a Home
  
• Should You Wait Before Buying?
  
• How to Buy a Habitat for Humanity Home

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