Buying vs. Renting - Which Costs You Less?

It's the age-old question in real estate when you're trying to find your next home - buy or rent?  Many people have a preconceived notion of which is best for them.  But over the years that I've been working with my real estate clients in the Phoenix area, I've noticed that sometimes it's not such an easy decision.



I've worked with people looking to rent a home simply because they didn't think their credit would be good enough to qualify for a loan.  Once they spoke with a loan officer, however, their mindset changed!  There's so much more to qualifying for a loan than just a credit score.  Many renters don't even realize that they're in a better position to qualify than they thought. 

And with rates still fairly low, it can actually be a lot less expensive to own instead of rent.  But again, there are a lot of factors that come into play.

I found this neat little tool on Trulia that lets you determine a few factors and then find out if it is less expensive in your area to buy or rent.  Click here to try it out and let me know what you think!

If you're not sure which is best for you, the place to start is by talking to a lender.  Click here to connect with one of my favorites! 

No matter if you're buying or renting in the Phoenix area, I'm here to help.  Contact me and let's chat!