Buy instead of rent.  Here’s why:

Are you unsure if now is the right time to buy?  Before you look to rent a home, read this article.  It might be a good idea to buy instead of rent for many reasons.

It’s cheaper to buy than rent in almost every major U.S. housing market, and over the long term home prices appear likely to rise substantially. There’s no guarantee, of course, that home prices will escape another dip next year, especially if there’s a recession or any sort of economic slowdown. And it may take some time for real estate prices to recover fully.

In addition, not everyone who might want to buy today will be able to get a mortgage. But for people who can afford to buy a home and expect to stay in it for at least a decade, there’s a compelling argument that the current housing market offers an exceptional opportunity.

buyIn short, since owning a home is typically cheaper than renting after tax benefits are considered, today’s buyers would come out ahead unless housing prices fall substantially. In fact, though, prices figure to rise, either because of an economic recovery or because of inflation (or more likely, both). Yet while buying a home today is a safer bet than it was before the recession, most people are more hesitant to buy a home today than they were five years ago.

If you would like to start looking at the market to buy, call up The Lawhead Team.