Rent Vs. Buy – is that a question?

Each new client that I first meet always raises the question, “does it make more sense to rent or buy a home”. Now just so were clear, when I say “buy” I am also talking about Rent to Own; I view it the same way. The answer is that each client doesn’t get the same answer.

So how do you determine in buying vs. renting, which one is a better deal. Well, there are many factors that change each person’s scenario. From a financial stand point I have found a great website that may help you determine financially which way to go is better. Go to http://www.eloan.com/s/rentvsown/input, this is a very easy to use and understand calculator that factors in many different numbers.

Now, with finances aside, I have said it before and I will say it again, there is so much more to home ownership than finances. If you look at homeownership from just a financial standpoint, you may or may not find the answer that you were looking for, but if you look at the whole picture, each time homeownership will win hands down.

I just finished a four part series on the benefits of lease options and one of the greatest benefits was the fact that you own the home! I will bet that most of you who run the calculator will find that financially it makes more sense to own a home…but I can guarantee that homeownership will meet the needs of your family more than renting.

So go to the calculator and plug in your information, you can also play with the numbers on the right side of the page. This will give you the ability to see how each number will be affected by the outcome. Check it out and let me know what you came up with.


Dedicated to Your Financial Success,

Kenton Becker
kentonb@empireoptions.com
Managing Partner / Land Home Financial Specialist
License # 510-LO-36929
http://www.empireoptions.com/