The decision of whether to rent or buy might be one of the biggest financial decisions you will make, so it is wise to consider the advantages and disadvantages of either. There are a lot of factors that go into this decision, such as your lifestyle, needs, household size, and career.
One of the main benefits of renting is the flexibility and minimal responsibility which can be considered an advantage if you’re at a point in your life where you don’t want to feel tied down to a single location just yet. You won’t face the issue of not being able to sell when you want to move, making changing your mind about where you want to live a lot pricier when you own instead of rent. This flexibility comes with risk, as you are subject to the decisions of your landlord like if they suddenly decide to sell the property or increase the rent. Also, you may not have the freedom to do what you please with the place when it comes to certain renovations, so keep that in mind if that is something that is important to you.
Rent payments are considered wasted money, but this statement is false as having a place to live will always cost money in one form or the other. Keep in mind that there will be a lot of savings that come with renting instead of owning, such as property taxes, trash/sewer/water services, homeowners insurance, and more.
Buying a home is great if you want a place to call your own and want to settle down. You get the pride of ownership and the feeling of stability. You have the freedom to modify and renovate as your heart desires. By purchasing a home, you build equity and get to enjoy tax deductions. On the other hand, the advantages of renting are the downfalls of owning.
If you decide to move, the process becomes a lot more difficult. You have more responsibilities as there is no landlord, and there are many more services that you will have to take care of yourself, such as certain utilities and insurance.
“Jimmy & his team were excellent!! I couldn’t have asked for a better agent. He is very punctual, intelligent, proactive and always has your best interest in mind. We used the Zillow recommendations for the reason on why we went with him and it exceeded our expectations”
“Finding a knowledgeable Realtor is hard enough. Finding one that has integrity… that’s even harder. Jimmy is both. Moreover, Jimmy’s team is modeled in the same way. Jimmy and his team answered all of our questions in a timely manner and showed us a genuine care for our family. We were not just another sale to make their commission. Selling your home is stressful and difficult. Having Jimmy and his team, make it so much easier.”
“The Reed team knows their business. If you are looking for an agent that is aggressive and demanding in getting your home sold quickly this is the team for you. The Reed team does an up front cursory inspection of the property. They make recommendations based on the inspection results so their are no questions or concerns from a potential buyer when the home hits the market. After 8 relocations this team is by far the most efficient and effective. You will NOT be disappointed.”
“Jimmy and his team listed our house quickly and the way they market resulted in a huge turnout at our open house. As a result we didn’t have to bother with multiple showings, as we had multiple offers! We received a great offer and closed pretty seamlessly!”
“Jimmy had told us that he had a strategy that would ensure a quick sale of the house at a good price. We followed his suggestions, and frankly I was surprised at the success of the process! We had multiple offers after only one Open House! Jimmy was able to help us to select the most qualified buyer and negotiate a very good price for us. He and his team were very responsive to every question and/or problem that came up. We trusted their judgement and followed their suggestions. Jimmy used his past experience, which was significant. He used technology, for example, drone video, which was impressive! The process was very successful and we were very pleased with the outcome!”
“You absolutely cannot go wrong hiring the Jimmy Reed Team. We needed to sell my Uncle’s house in a hurry and Jimmy was recommended to us. That was a lucky day. From start to finish the Reed Team worked to generate so much interest in his property that they held one open house and at the end of the day had 8 very legitimate offers. Jimmy knows just how to market your property using every tool in his arsenal. He is an expert at driving all interested buyers to your property and his formula works. Everything that he told us at our first meeting happened just as he said. You will be working with a person and a team that you can trust. I never once worried that he was not doing his best for us. Hire him and use his knowledge and experience to have the easiest, most profitable Real Estate transaction knowing that all is being taking care of by the Jimmy Reed Team.”