Real Living Real Answers Real Living Lifestyle Planning Guide | Page 16

To help ensure you are fully aware of your lifestyle
options and their potential benefits, below are some
things to consider when renting versus buying.
The Real Living approach represents a departure
from many in the industry who emphasize only
homeownership because we also take the time
RENTING
VERSUS
BUYING *
*As taken from the Real
Living. Real Answers. SM
to explain the benefits of renting. Whether you
rent or buy should be your decision—and made
as an empowered consumer.
WHEN RENTING MIGHT BE BEST
Here are some factors to consider. If you answer yes to one or more
of these questions, it may be advisable that you rent.
DOWN PAYMENT
Would a down payment for a home represent a financial strain or is
simply not possible at this time?
guide, When to Rent OWNERSHIP LENGTH
and When to Buy—A Do you plan on living in a home for less than three years?
Customizable Approach to PROPERTY VALUE
Prudent Lifestyle Planning. Based upon price trending, overall demand for the area and price
range you are considering, is your property more likely to go down
in value for the foreseeable future than to increase in value?
Although some might say owning a home represents the American
Dream, Real Living. Real Answers. SM suggests that ill-advised timing
and circumstances can also lead to the “American Nightmare.”
Specifically, when prices drop significantly over a short period of
time and it is for the same length of time that the home is owned.
When this happens, it triggers a negative economic event, as the
owners of a property do not have enough time to benefit from
historically-impressive appreciation.
Moreover, if you own a home for only a short period of time you will
be denied the opportunity to spread the upfront inspection and
closing costs over time.
Step 2 / Review Your Lifestyle Options
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