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September 2018

To Rent or To Buy? That Is The Question!

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Some people don’t think buying a home makes sense. They feel like renting is a smarter move.

On the other hand, some people think renting doesn’t make any sense.

For the most part, arguing it one way or another is about as useful as arguing politics or religion — whatever “side” you’re on, you have your point of view, feelings, and reasons.

But there are also people who are open to debate. If that’s you, read on. This will give you some food for thought and help you make up your own mind about whether it makes more sense to buy a home or rent one.

At least you have the option

Picture living back in Medieval times.

Only a few people are allowed to own land, and you’re not one of them. You can live on a lord’s land, but you’ll have to give him a certain percentage of whatever you grow or raise.

How do you feel about that? Are you OK with that? Is it fair? Probably not…

So, look at it this way: At least now you have the option of buying property. Whether or not you want to exercise that right is your choice.

And it is a choice. You can also decide that you’d rather not own the property you live in. You can certainly still rent from a landlord. (Although they probably won’t accept bushels of wheat, baskets of vegetables, or a goat as payment. You’ll need to somehow convert that to cash money.)

But owning property isn’t for everyone. It comes with responsibilities, risks, and limitations that not everyone is cut out for.

Both come with responsibilities, risks, and limitations

Many people who claim renting makes more sense feel that way because:

  • They feel like values are too high. (Unaffordable.)

  • They feel like it’s too risky. (The market could crash. Values could go down.)

  • They could lose their house (if they lost their job and fell behind on mortgage payments).

  • There’s a lot of cost to maintain a house.

  • It will “tie them down.” (They won’t be able to move to the coast of Costa Rica and surf for 7 months.)

All of those are valid and possibly true reasons for not buying a home. However, renting also comes with responsibilities, risks, and limitations:

  • Rents aren’t necessarily more affordable than buying a house, and they can go up over time (and probably won’t go down).Conversely, the value of a home you own will most likely go up over time, even if it does go down.

  • There’s risk that a landlord could not renew a lease and force you to move.

  • While you aren’t usually entirely responsible for maintenance, you can be held responsible for things that break or get damaged. You may also be responsible for some upkeep and maintenance costs.

  • You don’t have much say in what gets done around the house or apartment. You’re at the mercy of a landlord doing something (or allowing you to do something to it).

  • A lease can tie you down as much, if not more, than owning a house that you can choose to sell or rent out if you want to move at some point.

Obviously this isn’t a complete comparison list of risks, responsibilities, and limitations. There are certainly more we could get into. It’s just to make a point, which is…

Whether you buy or rent a home, you will have risks, responsibilities, and limitations placed upon you. The only true solution is to live for free in your childhood home forever and ever — and even that probably isn’t entirely “free” or without responsibilities and limitations.

You can’t live somewhere entirely for free, but…

…what you can do for free is figure out whether you should buy a place to call home, or rent one instead.

R.E.A.L. with Matt and Katie – Getting into the Real Estate Biz! Episode 2

Matt and Katie here!  We are a married couple that has been conquering the world of Real Estate in Phoenix AZ for years together. In this podcast we’ll share entering the real world, getting real estate license, career change and double your investments.

In episode two, we have suggestions on getting into the real estate industry along with tips on things to think about and questions to ask yourself before taking the plunge.  

Please share your feedback and questions by contacting us here! 

Just Sold in Phoenix, AZ – By Team EvoAZ – August 2018

Team EvoAZ’s Sales Totaled $2,583,500 for August 2018!

41384 N Palm Springs Trail, San Tan Valley, AZ 85140
2024 S Sawyer Circle, Mesa, AZ 85209
3449 E AVALON DR, Phoenix, AZ 85018
2833 N Villas Ln, Chandler, AZ 85224
1011 E Nicolet Avenue, Phoenix, AZ 85020
2220 E Flintlock Drive, Gilbert AZ 85298
4222 E Brown Rd #30, Mesa AZ 85205

Move-in ready in Mesa! Mesa home for sale!

Beautiful Condo located in the desirable community of Ramblewood! Rare First floor unit with N/S exposure & Garage! Enter through your private patio & you will walk into a spacious great room floor plan which features a wood burning fire place. Kitchen includes stylish white cabinets, tile flooring & refrigerator. 2 LARGE bedrooms, with carpet throughout, & walk-in closet. A NEW A/C unit! Garage leads directly into the unit for easy access. French doors lead to private front patio with a gorgeous view of the grounds which feature BBQ grills, shaded park benches, community pool & spa. This community is centrally located close to shopping, restaurants and the freeway.

Inventory Levels on the Rise as we get closer to Fall in Phoenix

August numbers are in and is definitely one of the slowest months of the year.  It’s typical to experience a little slow down in the market and August is not about to disappoint.  I think we’ll see things pick back up a few weeks into September 😉  call or text 480-250-0023 for details on buying and selling in today’s market conditions.