- Rent or Buy a home? What is the right choice? (Part 1 of 4)
- Rent or Buy a home? Weighing your commitment. (Part 2 of 4)
- Rent or Buy a home? Analyzing your fears. (Part 3 of 4)
- Rent or Buy a home? What’s holding you back? (Part 4 of 4)

What if the market goes down?
One of the most common concerns people have about buying a house is that the market might “crash.” In other words, they’re afraid that they’ll buy a house, and then the market will decline and it won’t be worth as much as they paid for it.
Yes, the market could “collapse,” and house prices could eventually drop below what you paid for them. However, homes have historically increased in value over time. Although they could experience a dip, they eventually top their previous peaks. Do you honestly think you’ll ever be able to pay the same price for a house as the last generation did? Most likely not! So, should you buy now or hold off? This choice will depend on a variety of variables linked to your personal budget and risk tolerance. Although I don’t know your circumstances and I can’t offer you financial advise, there are many options out there.
If you buy a house and the market does crash, the trick is to simply not sell below what you bought it for. If the market value is down and you need to move, then perhaps just rent it out until the market prices increases. But considering almost anything else you buy, a home is one of the only things that will likely appreciate over time and make you money. There is always a danger that delaying the purchase of a home because you are concerned about the value decreasing can result in higher costs later on because of increases in property value.
Is home ownership the end of your freedom?
Some people choose to rent because they believe that it gives them the flexibility to move whenever they choose. This should likely be categorize with the old adage “You can be whatever you want when you grow up!” Both ideas and viewpoints are worthwhile. However, most people don’t become exactly what they envisioned when they were younger, and most people don’t immediately uproot their lives and move to some exotic island. In reality, the majority of people eventually realize that they can create a comfortable life for themselves right where they are. But what if you purchase a home and then decide you wan to travel the world? There is a simple solution…. Sell and Move! Your freedom doesn’t cease when you buy a house. Selling your house might even be easier than getting out of a lease agreement. So, don’t consider home ownership to be a burden. It might even be the exact opposite. With home ownership comes a degree of liberty, potential tax advantages, and even the sense of pride. For many people, the loss of some freedom is worth paying for the potential security and comfort on both an emotional and financial level that a home may provide.
Are you renting because of low credit scores?
The rationalizations we’ve discussed for keeping a rental unit have frequently been logical or emotional. However, one of the most valid justifications for continuing to rent rather than buy a property is having low credit ratings. Your strong history of on-time rent payments is unlikely to have an impact on your credit score because many landlords don’t report rent to credit bureaus. However, breaking your lease could damage your credit.
You might be in luck if your primary justification for renting is a poor credit score. There are lenders providing mortgage options for borrowers with less-than-perfect credit. Furthermore, you can quickly boost your credit score if it is currently too low and preventing you from being approved for a mortgage. Its advised that you conduct an internet search to locate lenders who work with poor credit or those who can advise on ways that you can raise your credit score.
Where to find homes for sale or rent
There are many real estate websites to find properties for sale and rent. The Leighton Team has been number one in sales on Cape Code since 2020. The real estate portal lists the featured properties on Cape Cod.