Does It Make Sense To Rent
There are many valid reasons someone would rent in the Birmingham Alabama area. They might be new to the area and want time to see where they want to land. They might be only here for a short period of time. They might not have the credit necessary to buy. These are all valid reasons that one might want or need to rent but the cons far outway the benefits for most where renting vs buying is concerned. Lets take a look at it more closely. When you rent you receive no tax benefits, you never build any equity, you expose yourself to increases after your initial lease period, Other than the stated reasons above, if you have no time for maintenance renting might be the answer although the tax advantages and the equity one builds probably would more than allow one to hire the work done. Reports indicate that homes double in value approximately every 12 years. Even if it doubles once during the life of the loan, isn't it like putting all your mortgage payments in a savings to draw out in equity on the backside. All in all renting has its time and place but buying is the American Dream and one that every person should consider. If you would like to use a calculator to see the advantages of buying over renting we have one at
www.RealtorsForLifeTeam.com. It is free to use and if you have any questions please feel free to contact us and we will be more than happy to assist you.