Homeownership has long been a cornerstone of the American Dream, a mark of self-reliance and financial independence. It still is for many, even in the wake of falling property values since the housing bubble burst in 2007. Yet, even for those who can afford to make a down payment and monthly mortgage payments, renting might make more financial sense than buying a home.
Your Tampa CPA at Reliance Consulting, LLC, can help you figure out whether it’s more advantageous for you to rent your home than to buy it. While the answer might seem obvious on the surface, a thorough financial checkup – taking into account your short-term and long-term goals and plans – will help you make an informed decision.
The factors your Tampa CPA at Reliance will help you consider as you decide whether to rent or buy include:
- How long do you plan to live in your home?
- Are you willing and able to pay realtor fees, homeowner’s association fees, repair and maintenance fees and other costs associated with ownership?
- Is the current market good for investing in a home?
- How important is home equity for your long-term financial future?
Your Tampa CPA at Reliance can help you weigh every factor as you decide whether owning a home is right for you, or if renting makes more sense. Contact Reliance today for a complete evaluation of your financial health.