Some people prefer to rent a property as a means to avoid certain costs like property taxes. Usually these expenses are realized when owning real estate. In a sense, this is true. You will not pay directly for property taxes, nor are you personally obligated to do so. However, your landlord (the owner of the property) is obligated to do so. And more often than not, the cost is built into your monthly rent payment. Rent payments are not usually itemized… Regardless, renting something costs money. And in most cases, the rental income is sufficient to subsidize owning the property. This is why the cost to rent versus the cost to buy is more similar than people realize. And if you want to buy the property, you can rent to own it as well… Housing, and real estate in general, is diverse. Learn about your options…we can help. Ask us how.
*Not intended as real estate, accounting or investment advice. Contact your financial representative for more information.