I Can Buy a Home for That Price!

By: Kalyn Schutz, Leasing Consultant

If I had $100 for every time I have heard this statement, I could put a down payment on my own home purchase.

 Well, I could at least start saving for it anyway!

 We ponder things here at the Town Place Leasing Office. We give thought to the statements residents and apartment-seekers tell us regarding their individual needs and opinions. The topic of late is:

 Is it better to buy or rent? Can we really buy a home for the price of a rental?

 I was about to recreate the wheel, when the proverbial light bulb twisted itself loose from the socket and knocked me on my no-brainer. Perform a Google search on the matter! Certainly someone (particularly, someone else…) has already collected the data, created charts and graphs, and summarized their findings on the buy vs. rent debate.

 What did I learn? I think it all still boils down to the goals and desires of the individual, despite the ability or inability to be approved for a home purchase.

 A market study may show that it is better to buy a home at a certain time and in a particular area, than it is to rent in that same scenario. But if the person does not want to be bothered with the risks and responsibilities of homeownership – then the market does not dictate the best option for that person. The reverse of that is if a person really wants to own a home during a time when the rental market is the way to go, purchasing a home is the best option for them. Not everyone wants to invest in a home, and not everyone wants to invest in another entity’s property.

 I have often heard homeowners tell me they are downsizing and want an apartment because they don’t want the responsibilities of taking care of a house and yard any longer. I have just as many times heard apartment-hunters say they are renting with the goal of purchasing a home in the future. Who am I to discourage either from their desires?

 Besides, we are happy – and able – to accommodate folks housing needs regardless of the short or long term goals!

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