7 Things for Renters to Think About Before Buying a House

There are many reasons for buying instead of renting, but are you ready? Choosing to buy over renting depends on your finances, lifestyle, and personal goals. Here are 7 things to think about before calling us and one thing to ask us when you do.

1. Why are you buying?

While renting offers flexibility and predictable expenses, buying can give us a sense of stability, plus tax deductions and equity. From control of the property to finances, there are many reasons to own instead of renting. What are yours?

2. What do you hate about your current place?

Landlords, slow repairs, lack of parking...whatever comes with these are all things that can change by buying. In a home of your own, you have complete control.

3. What are your needs and deal-breakers?

Knowing what you want and need in a home makes the house-hunting process easier. Even better, if you know what you definitely don't want. Download our house-hunting wish list here.

4. Does your budget fit your new home needs?

If not, where can you compromise? If you need three bedrooms, can you do with two and add on later? Are you willing to do renovations? A fixer-upper might be perfect. There are many ways to work within your budget.

5. Can you afford the location you want?

You're not just buying a house, you're buying into a community and a lifestyle. If you want to live on the beach, that's going to cost extra. Moving inland a bit can help get you into a more affordable home. If you are willing to buy something that needs a bit of work, that can help as well.

6. Are you ready to do maintenance?

While landlords take care of fixing and maintaining their rental properties, homeowners are solely responsible for all of that. Make sure you are prepared to either do it yourself or hire someone.

7. Are you fiscally/mentally/emotionally prepared for the buying and moving processes?

There are many moving parts to purchasing a home and moving. If you're not aware of all that happens, we can help you. We can walk you through all the steps in the process.

Is it the right time to buy? This is a question that we will help with. Give us a call and we'll talk.