Is it Better to Buy or Rent?

Buy or Rent?The question can be difficult to answer, but it can be broken down into simpler questions to guide you through the decision making process.

–How long do you intend to stay in your next home? Renting is better than buying if you anticipate moving in a short period of time.
–Do you plan on keeping your current job? If not, can you reasonably expect to find another job in the same area?

The purchase of a home involves a number of one-time fees and expenses. If you end up staying in the home for less than five years, it will be difficult to justify the expenses associated with a home purchase. On top of taking a financial hit on closing costs, you get the added burden of selling your home and another batch of expenses from the sale.

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