Wednesday, 15 October 2014

Rent or Buy a Home: Quick Guide from National Realty Investment Advisors, LLC

Buying a home is an important step in life, but does it really make sense from a financial point of view? NationalRealty Investment Advisors, LLC has been active in the real estate investment business since 2006 and has seen priorities of home owners & buyers change over time. 

Like leading financial & investment advisors, NRIA believes whether you should rent or buy a home depends on multiple factors rather than one. Below listed are some of the most important points that will help you in making the renting vs. buying decision:

Home Price
How much you must spend on a home fitted to your needs is crucial to decide whether you can buy or most rent now.
NRIA believes buying is always superior because: 
1) The market share stable now and home peices are unlikely to fall again in any substantial way;
2) The excesses that caused the realty bubble can’t happen again;
3) Your home acts at a minimum as a forced savings account;
4) Homes do appreciate in value over time with inflation .
The easiest way to determine if you can buy now is check with a Realtor or call NRIA.

Stay Duration 
The time you plan to spend in the home is crucial in making the decision between renting and buying a home. If you plan to stay in the home for longer duration, then, the upfront fee will be broken into many years. However, if you plan to stay less than 10 years, renting may be the better option in most locations.  

Taxes and Mortgage-Interest Costs
Property taxes and mortgage-interest costs are deductible but they can be the difference maker if you are on a tight budget. Property investors on the other hand can benefit from property investment plans that come with tax rebates. Watch this video for unique investment plan.   

Family Income
How much money you and your partner bring home every year can help in making the decision of buying or renting. If you can pay off the home in 3 or 4 years, then, it is not a bad deal. However, if you have just started your careers, then, renting might be more suitable.

The New York Times has created an insightful renting vs buying calculator to help people make the decision on the basis of facts and statistics. However, don’t forget to consider other critical factors like market conditions and regional influencers before making a decision, asserts National Realty Investment Advisors, LLC.

In case you already have a home and are planning to invest in a rental townhome to earn regular income, then, call 201.210.2727 to discuss real estate investment plan that guarantees newly built pre-rented townhome at just $11,900 with 100% financing.

No comments:

Post a Comment