(602) 291-0249‬ cecilia.marie.az@gmail.com

Should I Buy or Should I Rent


Reasons This Phoenix Realtor® is a Strong Proponent of Purchasing a Home.

There are pros and cons to both purchasing and renting a home.  It really matters what you are most comfortable with and what you are willing to do. But I’m here to give reasons why I’m a strong proponent of purchasing a home.

Yes, the upfront costs can seem enormous when purchasing a home, but there are programs out there than can assist with the down payment and there are other ways to address some of these costs. 

Compared to purchasing, the initial investment in a rental can seem minimal, but multiply that by how many times you make a move and it will begin to add up.

So let’s say you move every two years and move in costs are $2,500, which I think is a little conservative, given monthly rents these days. And when you consider cleaning deposits, pet deposits, security deposits and the first month’s rent that number can climb.

Should I Buy or Should I Rent

So, let’s say you’re twenty-five years old and over the course of your life you move twenty times. That would put you at age sixty-five with plenty of life left to go and plenty of room for extended lease periods.

If one assumes the $2,500 remains the same over the next forty years, (which we all know it won’t), then $2,500 twenty times gives you $50,000 and at the end of the day, you have nothing to show. If you think about it, that could be your down payment on the purchase of your home.

Then there’s the monthly rent, which could exceed a monthly mortgage payment. Say monthly rent is $1,100 today. You pay that every month for the next sixty years.

If my math is right, you will have paid $792,000, and that assumes no monthly increase.  You will have paid for someone else’s property. You will have had little to no tax benefit. And worse yet, you will have nothing to work with, should you fall into hardship.

Should I Buy or Should I Rent

When you purchase a home, you build equity for yourself. Every mortgage payment you make goes toward you and your home.

I like to think of it as a savings account, because at the end of the day, I will have something of value that I can use for my benefit, regardless of what the market does. 

It’s possible I will have tax benefits that would reduce my liability. When the loan is paid off, I will have extra money to play with that I didn’t have before.

Should I Buy or Should I Rent

When I am old and no longer able to work, I will have an asset that I could sell, or take a reverse mortgage on to give me extra money I made need or simply want. Buying a home provides an opportunity for stability and becoming part of a community that can seem like family over time.

And if, for some reason, I cannot live in the home I purchase, I can rent it out and have someone else pay the mortgage – buy my home for me – and when I’m ready, I can move in my home, sell it, or take a reverse mortgage out on it if I meet the criteria.

I’m a proud member of the National Association of Realtors®, The Arizona Association of Realtors®, The Phoenix Association of Realtors® and The Arizona Multiple Regional Listing Service.

I’m a graduate of the Bud Crawly School of Real Estate and a graduate of HomeSmart’s SmartLaunch program (an advanced real estate business and marketing program).

Whether you’re buying or selling, my mission is to deliver value and integrity in all my Real Estate activity.

Should I Buy or Should I Rent


Cecilia Maria 

(602) 291-0249


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