Renting v. Buying

Most of us start out renting property. This might be our first apartment in college, that little house with a few roommates, or even our first place with our beloved spouses.  Renting can seem like the easier and cheaper way to go, especially if you don't have money for a down payment on a house.

However, you'd be surprised how a professional lender can shed light on your financial situation and get you into your own piece of property pie sooner than you think. (See help from previous post click here.) When considering a budget regarding the costs of owning property, there is more to consider than just the monthly mortgage payment. There are the inevitable property taxes to be paid as well as home owner's insurance on the property. Each property will also have maintenance costs to consider. Those costs can range greatly depending on the size and condition of the home and land. All of these costs can feel like home ownership is way too expense to consider. However there is the plus side to home ownership and that is the great tax benefit.

Renting with a Realtor

•   Realtors have access to the local MLS (Multiple Listing Services). I am a member of our local Contra Costa Board of Realtors as well as the California Board of Realtor and the National Board of Realtors

•   We have access to properties that are listed on the MLS to sell, and to rent. Most rental properties on the MLS are owned privately, and range in size from condominiums to single family residence and even short term rentals.

•   Realtor fees are paid by the listing party, (landlord/lessor), no fee to the renter (lessee).

Buying/Selling with a Realtor

•   Knowledgeable of the local area, neighborhood, market, schools.

•   Listen to the needs and wants to find a property or buyer for you.

•   Has YOUR best interests at heart.

•   Knowledge regarding the processes, procedures, protocols, and contracts to protect you in the purchase or selling process.

•   Walk you step by step through the process by communicating  openly with you throughout the negotiation, transaction, and escrow process all the way through close of escrow.

Tax Benefits to Buying over Renting

The tax savings in owning a home can really add up. You can write off your mortgage, but you cannot write off your rent. With home ownership you are putting money into your own pockets instead of someone else’s.

For a clear explanation of tax benefits see here

If all of this still causes confusion, or you need help sorting it out, please give me a call. I would love to do what ever I can to help you.

I also offer free home valuation reports when you are considering selling your home. There are also benefits to keeping your home as a rental property and purchasing another home to live in. For more on that, give me a call.

I am never too busy to take your call or a trusted referral from a family, friend or neighbor.  

Family and Home are so important to me that I will donate $250 at the close of every transaction to Safe Families of Northern California.

Have a Blessed Day and a Blessed Home,

Casey