Article Review

Is it better to buy a home or rent?
Sheri Iannetta Cupo, AdviceIQ 7:04 a.m. EDT April 18, 2015

Spring – a time for fresh starts and, for some, a new home. Before you head out to open houses, your first
question should be: Should I own a home at this time? Your second: Or should I remain a renter?
Finding your first home is enormously gratifying, but funding it can be daunting. Yes, buying a home has its
advantages. The government rewards home ownership with favorable tax treatments. You get to build up equity
that is yours to keep. And if you’re lucky, the value may increase (don’t bank on it,
( though).
Maybe the best of all, there’s empowerment in ownership. You can paint the walls any color you please – or
even tear them down entirely – without having to ask for permission.
However, buying a house is a huge financial commitment you can’t make on impulse. You might find this telling post
( of interest, as personal finance author
Ramit Sethi describes a friend who did little planning before she was about to buy a $1 million home in San Francisco. I agree with his succinct line in his
post: “Research for gargantuan purchases = good.”

Emotions aside, if you’re not financially ready, it might make sense to continue renting (
home-than-buying-one/) until you are on firmer footing.

The costs of home ownership often surprise former renters. These include your initial down payment and opportunity costs – or what else you could be
doing with the money, such as paying off high-interest debt from credit card balances or personal loans.
You also must factor in a number of recurring costs: your mortgage, annual property taxes, insurance, standard maintenance, home improvements and
applicable condo or neighborhood association fees.
Then, there are the emergency reserves you want to have for events that insurance just doesn’t cover – a refrigerator breakdown, for instance.
To help with your research, this handy calculator ( provides
you with a ballpark figure for the initial and recurring costs of owning versus renting your home.
Some information you need for the calculation:
• Your credit score. I suggest the federally authorized (
• What mortgage rate you can get. Here’s a handy starting point ( to assess bank rates in your
region (with emphasis on starting point, since rates can change quickly).
If you’ve pushed around the planning pencil and concluded that buying is financially better than renting, the New Jersey Housing & Mortgage Finance
Agency offers this helpful, step-by-step “Guide for the First-Time Homebuye
(” The guide starts with figuring out what you can afford,
through making an offer to the closing of your new home. Some of the financing information is specific to the region, but much of it applies regardless of
where you live.
Last but not least, for general learning purposes, calculators and food for thought, I’m fond of the Mortgage Professor (,
including his list for first-time home buyers (
Happy home buying or renting, whichever is right for you.
MORE:4 ways to handle risk (
MORE:How to manage inflation (
(Photo: Paul J. Richards, AFP/Getty

MORE:Doubling your money (
Sheri Iannetta Cupo, CFP, is principal of SageBroadview Financial

Fountain Writers
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.


Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.


Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.


Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.


Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.