Finding Your Starter Home

I love working with couples who are starting their lives together! Their energy is contagious, making me A part of so many new dreams and fresh ideas, at the same time feeling blessed that I can utilize my experience to help the generation that is now shaping our world. When a couple is starting a life together, there are a lot of real estate decisions that must be made.

Are We BUYING? or Are We RENTING

When Buying A Property

PROS

• Buying real estate in South Florida will likely result in wealth-building over the years.
• If you are looking for flexibility to decorate, renovate or modify your place to make it your own.

CONS

• It will usually take at least one month to allow for all the paperwork required for the purchase to process
• In most cases, you must sell the property to use the equity of your real estate for your next dream home. Sometimes this can be a lengthy process

When Renting A Property

PROS

• Renting in many cases means a lower and predictable monthly payment. Tenants usually do not have to come up with the money for unexpected household repairs.
• It may take only a few days to find a rental property, get approved, and have a move-in day
• A rental property means you are not attached to it other than your contractual obligations. It can usually be renewed or let expire on a yearly basis, making it easier to pick up and go to the next dream home.

CONS

When renting a place, tenants must adhere to landlord’s contractual demands.

Is it better to lease because it has more pros than buying? Not necessarily. The pride of owning your home is extremely rewarding. It is a tangible asset that grows with you. In south Florida real estate value increases much faster than the rate of inflation, making it an excellent investment. I have known people, over the period of 20 years they bought and sold about 3 times in south Florida, each time selling it for much more than they paid for.  It was that benefit that allowed them to build a nest egg for retirement.

 

Conclusion: There is no right or wrong answer. Every case is personal and connected to individual needs. Just make sure a professional is on your side, as you navigate all the many steps that will be required to take, for you and your better half to find your next dream home! 

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