Pros & Cons of Buying a Home

Ask a renter why they don't buy, and they may have one of any number of reasons:

  • Not enough money for a down payment
  • Job may require them to move from location to location
  • They're unsure where they want to live
  • They believe they can make more money in investments
  • They don't want to be tied down
  • They think they can't afford it
  • Don't think the benefits of home ownership outweigh the benefits of renting

Ask a homebuyers why they bought, they might tell you:

  • It's part of the American Dream
  • They've saved up enough money for a down payment
  • They've decided where they want to live and want to settle down
  • They see it as an enforced savings plan
  • They're tired of "throwing" money away on a rented apartment
  • They don't want to deal with landlords
  • They want a place to call their own
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NOTE: This column is distributed by Real Estate Matters Syndicate, PO Box 366, Glencoe, Illinois, 60022. This column may not be resold, reprinted, resyndicated or redistributed without written permission from the publisher. © 1997-1999 by Ilyce R. Glink. Distributed by Real Estate Matters Syndicate