Should I Rent or Should I Buy?

Many people ask themselves the question "Should I rent or should I buy?" when they are ready to make that step in moving into a new space.

Meet Tim. Tim needs to move. Here are some possible reasons he needs to go. Perhaps this is about to be Tim's first place out of school, perhaps he's recently divorced and he's starting over, or perhaps the rental contract on his current residence is about to expire and he needs to decide whether he's staying another 2 years or if he's going to move into another residence with more space. It all comes down to what you desire and how much money you can reasonably spare.

If you can afford a mortgage rather do that over renting a home. When you rent a space you are giving your money to someone else. When you pay a mortgage you are working towards something - owning your own home, condo, studio apartment, or the like. Paying a mortgage may cost more than just renting a space, but remember that you are working towards your goal. Try to find a place that you can reasonably afford along with other living expenses. If you can do that, rather get a mortgage over renting.

The licensed Bahamas real estate agents at Damianos Sotheby's International Realty can help you find your new residence. Whether you plan on renting a space for now or have decided to purchase real estate, we can assist. Just contact us with your Bahamas real estate desires and we will put the information together for you.