Posted 11.15.12 @ 9:15
Luxury rentals can be a fun idea… at first! But once you hit that roadblock of not gaining equity Oakville homes for sale start looking very attractive. We’re Oakville luxury realtors and we’re here to help. Here we’re going to talk about the pros and cons of buying versus renting a home (obviously we’re a little biased) and how to choose which is right for you. Don’t make your decision before you know what all of your choices are – a well-informed buyer is always a happy buyer, let’s get started.
Why You Might Want to Rent
We’re going to go ahead and get this part out of the way – renting Oakville luxury real estate can be great, but you just won’t accrue that equity you can borrow against later. Let’s look at some of the perks and downsides:
- Cheaper to Start – it’s always cheaper to start renting (average cost is around $2,000 to $3,000 to move in) and less time intensive to rent than trying to buy Oakville homes for sale. It also gives you time to get your credit started if you’re young.
- Not Tied Down – you won’t be tied down to a specific location, giving you flexibility in your career and travel options.
- Save – some of us aren’t ready for the investment that luxury Oakville real estate requires, but when you rent you’ll be able to spend that money elsewhere.
Some of the downsides can things like rent hikes, no equity or ownership in your home, you’ll have limited options when it comes to remodeling and decorating and you’ll have a landlord to deal with.
Why You Might Want to Buy
Buying Oakville homes for sale is the way to go, and you’re going to want our services as your Oakville luxury realtor! Here are some of the plusses of buying:
- Equity and Ownership – Equity and ownership is so important, and you will be able to grow how much you own in your home with each mortgage payment. Later on you can borrow against your home (home equity loans) when you need it, you just don’t get that with renting.
- Tax Perks – One of the best perks of owning luxury real estate Oakville can offer is tax benefits. There’s a large host of deductions you can take like energy efficiency deductions and more. You’ll be able to have the best house possible and you’ll get to decide what you want to do with it.
- Make it Your Own – Let’s face it, finding a landlord that will let you have total control over your dwelling is pretty rare when you rent. But when you buy you get to decide!
By far for most of us buying Oakville homes for sale is the best option. If you’d like to explore what Oakville can offer you, contact us today! We’ll be able to help you find your dream home, no matter where or what it might be.