Often times I hear people say they are looking to rent a home and when I ask “Why not buy?” most have not given it any thought. Two years ago when I first moved to El Paso my husband and I didn’t give it any thought either, now I regret it. Do we want to stay in El Paso long term, no, but looking back on things we have been paying rent for two years and have no equity as a result. About a year into renting we did discuss buying a home in Florida and spoke to a lender. We thought for sure we would not qualify and we would just learn what we needed to do in order to buy in the next few years. After speaking with the lender we did qualify, had enough for a down payment and our mortgage payments would be less then our current rental amount. We are still renting because we are locked into a lease but I wish we had more fully explored our options sooner. I do recommend that everyone who is looking at renting speak with a Realtor & lender and weigh their options before making any commitment. Below you will also find a link to an article related to this debate if you would like to see some additional information. If you or someone you know is looking to rent please give me a call (813-758-7311) or drop me an email (Ria.Warner.Realtor@gmail.com) so that I can help you decide what option is best for you. No matter what you choose I can then seamlessly help you find the perfect home to rent or buy.
Renting vs. Buying