I Buy Houses San Antonio TX – Should You Buy or Rent?
Here at iClose Homes, Inc, I Buy Houses San Antonio TX and we’re are always on the lookout for houses to buy, in any condition, under the seller’s terms by taking over the existing mortgage, paying cash or otherwise. Some readers may wonder why we choose to do this, because of course in every situation there are positives and negatives. Below are the most common pros and cons of buying versus renting a house, because as much as we enjoy buying houses, we also equally enjoy keeping our readers well informed!
Pros of Renting
(Lack of) Maintenance Costs
When renting a house or apartment unit, the landlord is generally responsible for maintaining the property, unless otherwise agreed to via leasing contract by all signing parties. This is beneficial for those who do not want to perform their own repairs, pay those hefty handyman fees or have the headache of dealing with repairmen or contractors.
Undecided About Your Career?
Instead of planting your roots, so to speak, when you rent a property instead of buy you are able to relocate if your career, or other aspects of day to day living require you to do so. Lease terms can be as short as one month but are more commonly around one year, so if you are still deciding on where you want to be in five years renting may be the way to go.
Little to No, or Bad Credit?
When renting a property, you as the renter are required to make rent payments. By making these payments on time, you are able to build a positive credit and rental history. When you have good credit and rental history your chances of qualifying for a mortgage are much better. Renting is a great place to start if your credit has yet to be established so one day your dreams of owning a home may become reality.
Pros of Buying
Artistic License
When you buy a house, it is then yours! Do what you will with your property (limited of course by local laws and homeowner’s {HOA} association rules). If that means murals on living room walls – go for it! You can add another bedroom, install multiple shower heads, remodel the kitchen or even move walls.
Equity
When you have a home mortgage, you actually own more and more of your house with each mortgage payment, and build your credit score. Generally speaking, if you plan to stay located in the same area for about five to seven years minimum, the cost of purchasing a house is counteracted by the amount of equity build through making mortgage payments. For those who no longer require a life journey to know where they want to live, a long-term decision such as buying a house is more beneficial than simply renting a house or apartment.
Maintenance Options
Instead of relying on a landlord to hire trusted contract professionals, the choice is up to you in regards to who does your home repairs. If you’re particularly handy, then you have the freedom to perform work on your own house. If you want to try out that company that has those rave reviews, then no one is going to stop you. You are now your own landlord!
So we have detailed the more notable advantages of renting and owning property, but the biggest question is which is cheaper? Unfortunately, this question does not have a concrete answer, as factors such as location, market appreciation (or decline), time of the year, and maintenance cost all play huge factors in determining which option would be the most cost effective for each individual. Before making any decisions, be sure to do your research and weigh all the options you have. And if circumstances make it necessary for your to your sell the house fast San Antonio, contact Jeff at iClose Homes, Inc, at (210) 588-9999 because he says “I Buy Houses San Antonio TX”.
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