If you are trying to decide to Rent or Own a home, you came to the right place. Here is a list of the Pros and Cons for both.

Pros for Renting

• May be cheaper than a mortgage
• No property taxes
• Freedom to move without the hassle of selling
• No risk of home going down in value
• Fewer maintenance cost
• No down payment requirement
• May use community features at no extra cost

Cons for Renting

• Payments will never stop when renting
• Not able to build home equity
• Rent will go up overtime
• No tax benefits
• Deal with a landlord or Property Manager
• May cost more than owning
• Not stable
• At the mercy of the owner
• Pets might not be allowed

Pros for Owning

• Build home equity
• May have tax benefits
• You are the owner
• You can remodel the home, add rooms, landscaping projects, etc...
• No more monthly payments once the mortgage is paid off
• You can rent it out or rent out rooms for extra money
• Fixed mortgage payments (if you don't get an adjustable mortgage)
• You can have pets
• A mortgage may improve your credit history
• Stable
• Pride of Ownership

Cons for Owning

• Home values may go down
• Might have HOA fees and Mello Roos Tax
• Pay property taxes
• If you want to move, you have to deal with the hassle of selling
• Down payment requirement
• Maintenance cost
• May cost more than renting
• More responsibility and liability

Well that is it. Choosing to rent or own a home is a tough decision and I hope this list helped you out. If you have any questions or would like to talk about these Pros and Cons, please leave a comment below or call me at 858-349-2390. Also don't forget to give me a call if you are ready to buy San Diego Real Estate. Thank you!

Paul Caparas
Broker Associate

Cell: 858-349-2390 | E-Fax: 619-209-7597
paul@paulcaparas.com | www.PaulCaparas.com
CA DRE # 01397640

Selling San Diego Real Estate since 2003