CONS of Buying
HARDER TO MOVE
Of course, there are also some cons when it comes to buying a home. First and foremost, it basically locks you in for a longer period of time, unless you want to move and continue renting it out. This ties you to the home for an extended period of time and if your life changes, or you have to move, it’s not as simple as it would be if you were renting.
RESPONSIBILITIES
Also, while a mortgage isn’t often much more than rent, there are other costs that you will be responsible for as a buyer. You will have maintenance, taxes, fees, insurance, and potentially much more. This can end up costing you a lot more than you were expecting if you only budgeted for the mortgage.
Which is the Better Option?
So which is the better option? Well, that depends. If you have a career in South Florida and are tied to this area for the foreseeable future, and have no inklings to leave, it could be a great time for you to buy! However, if you are a student, or not sure exactly what you want to do or where you want to live, you may be better off renting.
Either way, both renting and buying can be a good idea if you consider your budget, find the right space, and keep your lifestyle and goals in mind. Buying a home is a very big step, so make sure you are ready and are dead set on it before going ahead with the purchase. If you are thinking of buying a home, check out these 7 Things to Consider Before You Get a Home Mortgage!
In conclusion, we hope this article has helped you decide between renting or buying a home in and around Jupiter, Florida. But, if you are still unsure, one of our award-winning agents at the Meyer Lucas Team can provide you with a personalized approach to help you decide!
