Tag Archive for buy

Photo of the Week: Buyers Beware


Do you know what you should (or should not) buy in November? Read this.

When is it Smarter to Buy or Rent?

Options. This is one of my favorite words! I believe that having options improves learning and enhances decision-making skills. As a college student, I learned a lot about real estate and improved my decision-making skills. How? I experienced every living arrangement that was available! While living on campus, I had a private room as a freshman and a roommate later. I also shared an apartment with my sister, and I commuted when I was a senior.

When I graduated and started earning a salary, I wanted to build up my finances before moving out on my own. As a result, I stayed home and researched apartments as well as residential areas. I compared renting an apartment to buying a home because my parents always encouraged my siblings and me to become homeowners. I did not have enough for a down payment, but I could pay to rent an apartment. In addition, I did not want to take care of any repairs, maintain a lawn, etc.


I was not sure about how long I would continue living in my hometown; so, I chose to rent an apartment. While living in an apartment, I saved enough money for a down payment. I also grew tired of the noise and other problems of apartment living; therefore, I asked myself the same question that many people are asking now: “When is it smarter to buy or rent?” Again, I believe the decision comes down to your options. I made my decision based on the following three considerations: money, preferences, and mobility.

I purchased my first home after saving enough money for a down payment, selecting an affordable home, and considering any additional costs. One thing that I overestimated was my mobility. Due to advancement opportunities, I sought employment in another city and commuted for several years. However, I am pleased with my decision to purchase a home despite the extra expenses. After all, homeownership is the key to building wealth.

Next week, I will post about the one time I did not listen to my father’s real estate advice. Have you struggled with the decision to buy or rent? Please comment.