Debt Therapy, S2, Ep. 3: To Rent or To Buy?
Everyone thinks it is a cut and dry decision, but it isn’t that simple. Each situation is different. Part of being financially savvy means understanding what works for you and your family.In this episode, we dive into factors that you should consider when trying to decide to rent or buy. Because let's face it, owning isn't for everyone and neither is renting! Things to consider:Do you know the location and are sure you want to stay for an extended period of time?Do you anticipate living in the same area for at least five years?Does your budget allow for covering rent and maintenance (you own it, you fix it)?Are you buying for the right reasons?Have you spent time renting to build credit, save for the down payment, and have extra funds to fix whatever may need to be fixed?Listen to the whole episode for why you should consider these things before committing or passing on a home purchase!