Windsor Home: Should You Rent or Buy ?

Posted in Buyer Blog | 23/03/2012

Windsor Home

Windsor Home

There are many myths associated with renting a Windsor home as opposed to buying.  Now is an excellent time to consider taking the next step and looking into purchasing a Windsor home.  But for those that are happily renting and say that it is cheaper, well, in some cases they may be correct.

For people with these criteria, renting may be the better choice:

1. Job security is questionable, or there are times where income or employment is sporadic.

2.  Likes to pack up and travel at a moment’s notice.  Or there is a strong possibility they will be relocating in the near future.

3.  Securing a down payment is difficult.

4.  Prefer to rent in an area they can’t afford to buy.

5.  Don’t want to worry about home repairs and the expense of maintenance.

However, if you are a renter and you are considering purchasing a Windsor home, ask yourself these questions:

1.  Do you plan to live in one location for many years?

2.  Is your employment stable and your expenses manageable?

3.  Is money available for a down payment?

4.  Are costs related to home maintenance and taxes a problem?

5.  Do you desire more control over your housing decisions?

In the long-term, owning a home has several financial advantages as opposed to renting.  If you are looking into the future, unlike rent, a payment on a fixed mortgage never goes up.  Also, a property can be rented for income and housing values usually rise.

Needless to say, only you can decide if you are ready to buy a Windsor home.  Owning and renting is a personal decision based on your goals.

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