Is buying a home the right decision for you? While the dream of home ownership in a waterfront home in West Palm Beach or Manalapan may be securely set in your mind and heart, making sure the timing is right is just as important. It is in your benefit to consider the ‘why’ and ‘how’ as much as the ‘want’. Be sure to think carefully about your current lifestyle and future needs before making the commitment to purchase a home.

Why not rent? There’s nothing wrong with renting. In fact, one of the first rules of home buying is to remember not to rush into buying a home. Buying is a long term commitment, so there are many reasons why you should take your time, from making sure you’re moving into the right neighborhood for you, to finding the right home to fit you or your family. But is your day-to-day life conducive for buying? If you expect to be living in an area like West Palm Beach or Manalapan for a short term, or aren’t ready to invest the money in a property (leave it to the landlord), then renting may be the right choice for you.

Why buy now? The many benefits of buying a home reveal themselves over time. Indeed, buying a home is an investment – play your cards right and your home can appreciate in value substantially over the years. Also, you have complete freedom over your home when you own it - you have no one to answer to but yourself when you make improvements. If you are ready to stay in the Palm Beach area for a few years, putting your money into buying a property can be a smart move.

Remember to talk to your realtor about buying vs. renting in Palm Beach. While the decision to buy or rent is ultimately a personal one, an experienced realtor can help you assess your needs and goals, and provide the context for you to make a well-informed decision.

Annual Real Estate Trends | Be Aware of Extra Costs | Buying Your First Home | Buying vs. Renting | First Time Homebuyer Incentives | Home Buying Mistakes | Home Ownership Benefits | Home Purchase Pitfalls | How Much Home Can You Afford | Identifying Undervalued Homes | New Homes vs. Resale Property