Buy Vs. Rent

There are many free rent versus-buy calculators online that you can use to plug in your financial figures, by doing so will give you a more precise idea of what is most fiscally feasible for your situation.

• If you plan to stay in your home for less than five years, it may be better to rent, given that a longer residential term equates to fees being spread out over a more extended period, making this decision a better one in that case.
• What is your tax picture? Property taxes and mortgage costs are significant – but at the same time deductible – depending on your financial picture; this can certainly impact your decision as to whether you want to buy or rent.
• How much are you prepared to spend on homeownership maintenance and home ownership fees? If you’re a renter and your plumbing overflows, you call your landlord. When you own, you are your landlord, meaning you’d better get out that plunger; it is entirely your call.
• If you choose to rent, know that that is not necessarily fee-free. At first, you may pay an extra fee if you rent through a management firm or broker, as well as a security deposit. These costs are relatively negligible compared to the startup (and maintenance) costs of homeownership.

Are you still trying to decide between renting and buying in San Francisco? I’m happy to help you determine what’s right for the needs of you and your loved ones.