In this video blog, I speak with Ryan Clift-Owner of Safe & Sound Inspections. Ryan shares some great information on how to choose the right inspector for your next home purchase or sale. 

By Jason Gelios REALTOR     2 min read

If you are looking to move to a new location, you may be wondering if it makes sense to rent a place or purchase a home. While there are many pros and cons to both choices, the right answer lies within yourself.

Let's look at renting your next home. Leasing a home or apartment has some benefits. Here are some of those benefits below:

• No long term commitment
  
• No loss of equity
• No waiting for your house to sell
• No maintenance costs on the home
  

While there are some benefits to renting a place. Let's now examine the con's of renting as stated below:

• No equity stake or build up
  
• Lack of control over updates on home
• Landlord can end your lease quickly
• Not a good investment

As you can see, there are pro's and con's of renting your next place. It pay's to look at this option carefully and decide if it makes more sense for your situation.

Now let's take a look at the pro's and con's of purchasing a home. Here are the pro's:

• Typically you gain equity (In good housing markets)
  
• Pride of ownership
• Long term stability
• Possible return on investment (Again, if markets are good)
• You can make changes to the home how you like (Check local cities though)

As you can see, there are a wide variety of pro's in purchasing a home. Now let's look at some of the con's of purchasing a home. Here they are:

• Big investment in obtaining a home loan/house
  
• Closing costs to obtain your loan
• Additional costs to maintain home and landscaping
• Unexpected or expected repair costs
• Additional time to sell a home if needed

When looking at renting or purchasing a home, you need to weigh the pro's and con's of both to make sure you are making the right decision.