A real estate agent talking about the benefits of leasing…sounds crazy, right? Well, my job as an agent is to help you find a place to live. And sometimes, well, it just makes sense to rent.
Here are some examples of situations that would make more sense to rent than buy:
- You cannot get approved for a home loan and do not have the capital to pay for a house in cash. Sometimes, we make poor financial decisions in life. And sometimes, these poor financial decisions can significantly impact the ability to get a loan. If this is you, I am not here to shame. I am here to help. If you need to rent somewhere while you get your financials in order, I am more than honored to walk alongside you in the process.
- You are in school. If you are currently living on campus or near campus and are only wanting to live in a short-term situation, you may want to rent instead of buy. Many students consider school expenses and loans already. You may not want to add another loan onto your plate.
- You don’t know where you want to live permanently yet. If you are moving to a new area and are not quite sure where you want to settle down long-term, there is no reason you have to buy right away. You could rent for a year in an area that you are interested in, and if you like it, you could always buy the next year! Or if you don’t, you can move somewhere else for a year or so, until you find the area in which you want to settle down.
- Your job requires you to move often. If your job requires you to move every year or so, you may not want to go through the hassle of buying and selling a house each year. That’s totally understandable.
- You don’t have money saved for a down payment. Now, there are many programs out there that offer no- to low-down payment options (and I am happy to connect you with someone who can see if you qualify for those). But if you do not have the down payment necessary while still keeping a comfortable cushion for emergencies, then it’s perfectly okay to spend some time saving before you are ready to buy.
Well. There it is—I just gave you what most agents won’t: the pros of leasing. If you think you would benefit more from renting than buying a house, I would still be more than happy to help you navigate the market and find a home perfect for your situation.
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