When It’s Not a Good Time To Buy

Although it’s a GREAT TIME TO BUY if you are in the market to find a home, there are circumstances where it makes more sense to rent and not purchase.

While you won’t enjoy the tax saving and equity gaining benefits that come along with owning a home, a long-term lease can lock in some savings for you and provide some stability for you in the short term.

Here are some things to consider when weighing the decision to Rent or Buy:
How long do you plan on staying in the area? If you are inflexible and know you’ll be leaving sooner than later, you’ll be better off renting than buying. It’s better to purchase once you are ready to settle down.

Are you expecting a job change or income reduction? You don’t want to be in a position later on where you won’t be able to afford your mortgage. 

Will buying cost more than renting? If buying in the area you want to live will cost you more than renting, you may want to considering renting until you can afford to buy.

It’s always a good time to buy when your financial goals and lifestyle match your responsibilities for homeownership.

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