This is one of the toughest decisions for any prospective home buyer in California. The answer to this question is going to depend on a lot of different factors. From the local market to your own income, you’ll need to take multiple considerations into account before you decide.
Renting has many advantages:
As a tenant, you aren’t responsible for paying taxes or for the general upkeep of the property.
Water heater explodes? Call the landlord.
Roof Leaks? Call the landlord. Great right!
You have a sense of freedom renting that you cannot match when you own a home. Want to move to the other side of town? Sure, just give a month notice and you’re out of there.
But at the same time, what about all that rent you pay? Essentially, you are giving up any future profit from capital growth in exchange for convenience.
So let’s look at owning a home because it’s one of the safest and most lucrative investments you can make. Where the tenant gives up their rent each month, you will be building equity, month after month, year after year.
And when you sell your home, all that growth becomes cold hard cash.
If you have any questions about buying or selling your home, contact me today.
Mary D. Carlson joins forces with the Team Azizi, a division of Compass, with a distinguished military and academic career. Mary Carlson, originally from Texas, brings Southern character with a distinguished military and academic career. Mary began her real estate career buying houses across San Diego County. She navigated her way through the Southern California marketplace and found her passion while still in the service. Mary brings a diverse skill set and a breadth of knowledge to Southern California Real Estate. Her previous career experience as an Enlisted Veteran and Civilian Engineer for the U.S. Navy allowed her to build leadership skills and gain emotional intelligence, and resiliency. Mary's #1 priority to her client is showing the extreme benefits real estate can provide as an investment and a home, while also providing them value and experience through any real estate process with a passion she believes in.
