It is a common question posed to most real estate professionals, mortgage professionals, grocery store clerks, strangers occupying the seat next to you on the bus, or even your coffee barista. Usually the answer will vary depending on whose opinion you seek. Some people may even have a financial interest in whether or not you continue to rent or buy. You realize that person on the bus is working an angle, right?
There are a number of calculators available online to help you decide whether or not you should rent or buy. There are also websites like RentCafe that can help you make that decision. Factors to consider include current interest rates, cash on hand, move-in costs, etc.
While math may be the motivating factor for some people in determining whether or not they wish to own a home, and I truly applaud those people, I tend to identify more closely with the “heart” types: The people who slam on their brakes, throw the car into reverse, and call me from in front of a house that they absolutely need to see in person ASAP. I do not know if it is right brain vs. left brain, logic vs. emotion, or home-body vs. adventure-seeker. I work well with folks who fall in love first and then try to figure out why it happened.
Of course, I maintain my professionalism and provide judicious counsel, but that does not mean my heart is not pounding a little harder when I know we have found that perfect home. I get just as excited as you do when you realize you are finally going to be able to paint your walls every wacky shade you have ever entertained, you can own a dog of any size you choose for the first time since you were a child and provide that dog with a safe, fenced yard, or you can plan your vegetable garden to provide sustenance year round.
Sure, there is math. And then there is life. I maintain that it is always better to pay your own mortgage than someone else’s mortgage. If that means I have an angle in whether or not you rent or buy, I own it. My angle is always to look out for my client’s best interests, and to help them build personal wealth through real estate.
Moving to Portland? Or already here? We are Here to Help
Danni Duggan, Dana Smith, and Charles (Bud) Garrison, OR Brokers, Premiere Property Group, LLC
Danni: 503-719-2279 | danni@dannipdx.com
Dana: 503-805-0569 | dana@dannipdx.com
Charles (Bud): 503-679-1893 | bud@dannipdx.com
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