Rent vs Buy - Property Management
                     BOSTON CONDOMINIUM 
MANAGEMENT
http://bostoncondominiummanagement.com/
RENT VS BUY
SALES »  RENTALS»  PROPERTY MANAGEMENT
It is the age-old real estate question: Should I rent 
or should I buy?
There are many things to take into consideration when 
deciding this question for yourself. In general, most experts 
widely contend that if you are going to be in the same home 
for at least five years, the economics of purchasing clearly 
outweigh any benefits of renting.
Home-ownership provides, above all things, security and 
pride of ownership! When paying your mortgage, you will 
have fixed and knowable costs throughout the process. 
When renting, there is a high likelihood of the rent 
increasing each and every year. Currently, rental prices in 
the Boston area are increasing at an average of 10-20% per 
year with no signs of slowing down anytime soon. When 
renting you also must keep in mind that the landlord is not 
under any obligation to renew the lease. According to the 
terms of the lease, the owner has the right to rent the 
property to another party or to sell the property at any 
time.
If you are thinking of purchasing your 
home, consider the many tax 
advantages that come along with 
owning real estate. Ownership gives 
you the ability to write off property 
taxes, the interest on your monthly 
mortgage, and many of the 
improvements you make to your 
property. Be sure to consult with 
your tax adviser to learn about all the 
benefits of ownership.
On the sales front, now that the 
economy is improving, local 
economists are predicting a strong 
and steady rise in home and 
condominium prices. Historic low 
interest rates combined with the 
huge demand for properties that has 
been building over the last few years 
has buyers coming out of the 
woodwork to make their purchases. 
This demand will certainly lead to a 
rapid rise in sales prices. Smart 
buyers jumping into the game now 
will surely reap the benefits of rising 
property values!
Of course, there are some 
circumstances where renting is the 
wiser decision. If you are unable to 
predict what your living situation will 
be in the near future you must have 
the flexibility that renting provides. 
Most leases run for 12 months and it 
may be possible to sublet for a 
portion of the lease if your property 
owner allows it. This adaptability 
afforded to renting is perhaps the 
main reason why you would not want 
to buy a home. Another reason for 
renting would be if you are unsure of 
your job security. If your employment 
situation in the foreseeable future is 
tenuous then renting may be a better 
option for you.
When considering whether to buy or 
rent, make sure to check the sales 
price trends of homes in the 
neighborhood you are interested in. 
If the area seems to be declining in 
value, you may be better off renting.
Purchasing a property provides 
fixed monthly payments, the high 
likelihood of building strong equity 
as values rise over time, and peace of 
mind in knowing you are guaranteed 
to be able to remain in your home as 
long as you choose, provided of 
course you maintain your monthly 
payments. Of all the many benefits of 
purchasing, the most underestimated 
tends to be the great pride received 
from owning your own home. You are 
making an investment in your future 
and anything you do to your place 
will add to your satisfaction of the 
home and add equity to your 
investment; the great American 
dream!
It is said that “everyone in the world 
has to pay a mortgage.” It is your 
choice whether you want to pay your 
own or your landlord’s!
CONTACT DETAILS
BOSTON CONDOMINIUM MANAGEMENT
Address: 125 Jersey Street, Boston, MA 02215 
Phone No : +1 (617) 262-9966
Website: http://bostoncondominiummanagement.com/
Email ID : [email protected]