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Denise Laugesen REALTOR® (650) 465-5742

Cortney Laugesen REALTOR® 650-678-5084

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March 2, 2023

Should You Rent or Buy a Home?

By cortney In Buyers, estate, home sellers, Market Update, real estate tips, Sellers, Uncategorized with Comments Off on Should You Rent or Buy a Home?

Renting or buying is one of the most common decisions people struggle to make when finding a new place to call home.

Aside from the sense of pride and accomplishment that comes with becoming a homeowner, many other reasons make buying the apparent choice.

But before we dive in, we know that buying a home comes at a cost that may seem out of reach to some. Therefore, we always encourage you to consult with an expert to find out your options.

Here are five of our best reasons to buy instead of rent.

#1. Your House, Your Choice

A lot of freedom comes with homeownership – like the freedom to do as you please within your own walls. Want to knock out the island in the kitchen to free up space for you and your family? Or paint over that awful-colored wallpaper plastered across the walls of the primary bath? You can do it. You can change anything you’d like, and you don’t have to ask permission from a landlord. Just be sure to keep building codes in mind for the more extreme projects.

Painting, remodeling, or adding on is all under your control, allowing you to turn your home into everything you want it to be.

#2. Say Goodbye to the Hassles of Apartment Life

If you’re familiar with apartment life, you know it doesn’t come without these frustrations.

Less Privacy: One of the biggest frustrations about living in an apartment is sharing walls with strangers. Hearing their favorite Netflix show or private conversations isn’t exactly the background noise you want when you’re trying to relax in the living room after a long day at work.

Parking: When living in an apartment, you are left with two main options for parking, street parking or a paid spot – and are we really sure of the better choice? Street parking, depending on where you live, can be a safety hazard as well as an inconvenience, and paying for a parking spot is just another charge to tack on the list, along with rent, utilities, electricity, and WiFi. Owning your own home makes parking one less thing to worry about.

Pet Fees: Having pets can limit your living opportunities if you rent an apartment. Some landlords will even ban pets, but others charge fees anywhere from $10-200 monthly. Owning your own home removes this, allowing you to welcome as many pets as possible.

Say goodbye to the hassles of apartment living when you buy instead of rent.

#3. Reap Tax Benefits

As discussed in our previous blog post, there are so many tax benefits to take advantage of when you become a homeowner. To name a few…

Mortgage Interest

Home Equity Loan Interest

Property Taxes

Discount Points

Mortgage Insurance (PMI)

Necessary Home Improvements

Home Office Expenses

These deductions can save you thousands of dollars when all is said and done.

#4. It’s Cheaper Long-Term 

It’s no secret that the price of renting has increased across the nation at a fast pace. Last year, the average percentage increase in rent was 12.2% for new tenants and 3.5% for tenants making a lease renewal, according to the US Bureau of Labor Statistics.

One of the many benefits of becoming a homeowner is that your monthly mortgage payment won’t change {assuming you’ve chosen a fixed-rate mortgage).

Think of it this way. Each month as a renter, you are handing over your payment with nothing to show for it when you move out. But as a buyer, you are putting money on your mortgage in hopes of paying it off – thus building equity – and eventually even selling it for a profit someday.

#5. Settle Down with Peace of Mind

Aside from being able to make decisions about the appearance of your home and what you do with it – there is a sense of security that comes with being your own landlord. When you are renting, there is always the chance your landlord will choose not to extend your lease for many reasons, like selling the property or other circumstances, leaving you searching for a new place to call home. Owning a home makes it yours and offers the peace of mind you may not always feel as a renter.

We hope this blog post helped provide you with some of the very best reasons to buy a home. If you are looking for a real estate agent to help make your house-hunting experience a seamless and exciting one, don’t hesitate to contact . We look forward to helping you meet your real estate needs.

IF YOU ARE THINKING ABOUT SELLING your Bay Area property, it is important you hire a real estate team of professionals with an extensive portfolio of home sales, a significant list of happy clients and a history of excellence.

The Laugesen Team has the experience, connections and creativity to list and sell your distinctive property successfully.

• Pricing for Success
• Prepare for Top Sale
• Impressive Marketing
• State of the Art Technology
• Network with other High-End Agents

• Always available to show qualified buyers and agents.
• Schedule Open Houses and Broker’s Tour
• Follow-Up Quickly and Consistently
• Immediately respond to all leads.
• Encourage serious buyers to make serious offers.
• Facilitate the closing process to ensure a successful, competitively priced, stress-free sale.

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