Should You Buy a House Now, Or Rent?

Design by Diana Walton- Houston First Time Home Buyer Specialist

Hello and welcome to Houston First Time Home Buyers Edition, formally First Home Houston (FHH). As a Real Estate agent since 2011, I am often asked this question. Should I continue to rent or should I buy? While the question seem easy enough, the answer is anything but. Why? because there are many things to take into consideration beyond the financial aspect. The answer to this question will never be a one size fits all. For example, how is your current life situation? Are you married, single, divorce? Do you have kids? How old are they? Does buying a home fits into your current career and family goals? What are your current family and career goals?

Do you have an unstable job situation? How is your credit? Will you qualify for a mortgage? Do you have money to cover closing cost? Market volatility is a given, will you be Ok with that? What about school, are you thinking of going back? Do you plan on moving soon after buying your new home?

Do you like it here in Houston, or are you thinking of relocating? Will you be able to handle the financial responsibility that comes with owning a house? If you are leaning toward buying, how long do you plan on staying in the home? Do you have an idea where you want to be, as in neighborhood? Can you afford to buy a house in your desired neighborhood?

Building equity is one pro of buying a home. So is building credit. There is also the tax benefits, and you get to decorate and upgrade your home the way you want. While you will not have any landlord, you will most likely have an HOA if you buy into a deed restricted community.

Once you have taken the essential into consideration you will know if you want to take the steps to buying your first or continue to rent. As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please contact us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana