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Renting vs. Owning

Posted on January 30, 2015

Are you at a pivotal point in your life, debating the age-old rent vs. buy scenario? If so, you probably already know that both can have their advantages. And while the decision is purely circumstantial, there are some things to consider – financially and personally.

Financial Considerations – The best way to tackle this matter is to ask yourself: Would I need to make changes in my budget to buy a home for sale in Destin, Florida? If so, would it mean stretching my financial limits?

Answers to these questions may force you to explore the advantages and disadvantages of both renting and buying. If you own, you’re responsible for leaky faucets and roofs, but if you rent are you losing out on the opportunity to build equity?

Personal Preferences – Think about it: renting makes it easier to relocate. And if you find a long term rental in Destin, Florida that is less than a mortgage payment, you may have more to put towards savings. On the other hand, owning a home could make more sense if you want to put your monthly living costs towards something that could eventually pay off.

There’s no right or wrong answer. Only you can decide if owning a home fits your lifestyle.

Posted in: Real Estate Tips, Residential Leasing |Tagged: , , , , , .

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