Renting versus Buying
The old adage about it always is better to buy than to rent isn’t always true. In many situations, it’s more advantageous to consider houses for rent in Olympia instead of homes to buy. Whatever you choose to do, remember that renting versus buying is one of the most important decisions you will make in your adult life and it deserves plenty of consideration before you make your final decision. Here are some points to consider when deciding whether to rent or buy your new home.
How Much Can You Afford?
Rental homes tend to have a lower initial cost, but your monthly rent may be comparable to a mortgage payment on a home you want to buy.
How Long Do You Plan to Stay?
If you don’t know where you’re going to be in the next ten to fifteen years, renting is often more cost-effective.
What Kind of Mortgage Do You Want?
For most homes, there are multiple types of mortgages available, and every buyer may not qualify for every type of mortgage. Be sure you know what kind of deal you can get before choosing whether to rent or buy.
What Kind of Investment Will Your Home Be?
If home prices in your area have a long track record of trending downward or holding steady, you may want to consider renting a house instead. One of the major perks to owning is that your house becomes more valuable over time, something which does not hold true in all neighborhoods.
What Other Costs Are Associated with Your Home?
One of the major benefits of renting is that you often don’t have to deal with maintenance and repairs. Find out what your renter expects you to take care of around the property and factor that into the total cost of the rental.
Finding a Place to Call Your Own
Unless you are planning to stay in the area for a long time, making it your permanent home, rental houses in Olympia WA provide a cost-effective alternative to buying a house.
These are just a few of the questions to ask a property management company in Olympia, WA. If you have questions or want to discuss how Olympic Rental & Landlord Services can help you manage your Olympia rental home, contact us at (360) 878-0051.