Find A Great Deal: Buying VS. Renting

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With plenty of homes for sale in Portland and the surrounding cities, it is not surprising at all that the age old conundrum of buying vs. renting is a thought in many people’s minds. The fact is that it is a buyer’s market. If you are looking for a good deal, Portland REO’s, Portland Oregon foreclosures, and Portland short sales are not in short supply.

There are of course advantages and disadvantages to both buying and renting.

Mortgage = Rent

In many cases the amount of money that one would pay for a monthly mortgage would be almost the same as the amount that one would pay monthly on rent, especially with the tax benefit available to homeowners.

When You Buy It, You Own It

Unlike renting, when you buy a home you see exactly where your money goes and you reap the benefits. This means that your money isn’t just disappearing, but it’s going into a worthwhile investment. On the other hand, the upside of renting is that you are not responsible for the maintenance of the home and its various repairs.

No Equity Built, Not Much Control

When you buy a home you build up your equity and have that feeling of security and stability knowing that you have a place of your very own. You have total control of how you want your home to look and can change whatever you want. When you rent, no equity is built, there are uncertainties of eviction, possibilities of rent increase to worry about, and you can’t really control how the home looks and how things work.

Buyers