Is Renting "Throwing Your Money Down the Drain"?

So, if you’ve ever talked to me about renting vs. buying, you know that I definitely think that, in certain situations, buying just isn’t an option.  For example, you might not be able to qualify for a home loan.  Or maybe you CAN qualify for a home loan but you can’t afford to live in a neighborhood you actually like.  After all, I, for one, would rather live in Hyde Park than Cedar Park if my monthly payments are similar.

Photo courtesy of linkedin

There is certainly a financial element to buying a home.  However, I believe that we should see our homes as more than financial vehicles.  (check out my friend Rigel Thurston’s blog here for a perspective I profoundly respect)  There is so much to consider when choosing a dwelling:  “Where do I want to raise my kids?”  or “Can we walk to restaurants we like?” or “Is there a thriving community here?”  

With that lengthy disclaimer in mind, I wanted to share this great little infographic that Gena Caudle, our in-house mortgage broker, created.  After taking a look at this data, I think you will agree that, if all things are equal (they always are, right?!) and you can afford a home in an area you enjoy, it really makes sense to purchase a home rather than to go on renting.  
If you have any questions about the home-buying process or would like help getting started, feel free to call or email me and I’d love assist you!

Barrett Raven
C:  512-970-2648
O:  512-910-7403 


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