The Old Debate: To Rent or To Buy?

To Rent or To Buy?

The Old Debate: To Rent or To Buy?

Owning a beautiful bungalow behind a white picket fence in the suburbs is definition of the American dream. But one thing that is rarely touched upon is the price tag to actualize that dream. This brings about the all-time consideration that puzzles renters far and wide: is it time to purchase a home or should I continue renting?

To advise you on this, Sapphire Capital Investment, a leading property investment company in Tucson, Arizona offers its take.

What is your financial situation?

This is often the first consideration that will guide you on whether to buy a home or continue to lease space. Even in the best real estate markets, property is an illiquid asset and will require a considerable amount of your financial savings. It goes without saying that you should be financially prepared.

There is also the possibility that your lender may agree to support you in this venture. In such a scenario, the matter of the down payment, your debt to income ratio and also your credit score comes into play.

Do the math

When considering the answer to this debate, we appreciate the home ownership can be viewed from an emotional standpoint. However, in the real life, we have to check whether the cost of home ownership makes sense from a practical standpoint. And when it comes to practicality, the numbers never lie.

If you are looking to know whether to rent or buy in a certain neighborhood, bring out the calculator and your old math skills. Taking into consideration the interest rate, down payment and the length of the mortgage, find out how ownership stacks up against renting. You will need specific rent information details as well as market information.

We recommend getting in touch with the leading real estate service provider in Tucson, Sapphire Capital Investment LLC.

Are you ready to be a homeowner?

If you are looking to own a home, consider the type of person you are. Home owners are individuals who are ready to lay down roots and invest in an area/ community. They are willing to spend their weekends at the local Walmart, Home Depot or shopping district. If this kind of lifestyle is not synonymous with your vision, then probably homeownership is not for you.

Becoming a homeowner means you have come to terms with the risks involved. If you have taken a mortgage on the property, there is always the possibility of foreclosure if you default on the loan. And contrary to common belief, the value of your property could go down. Remember the Great Recession?

The pros and cons of renting vs. buying

There are many items to consider before making that choice of whether to rent or buy. Weigh the following pros and cons and make your preferred option.

The pros of purchasing a home

  1. Property appreciation; taking into account the economy and other location factors
  2. Tax benefits.
  • Customization of the living space to your tastes, needs and preference
  1. Payment of the mortgage builds equity
  2. Permanency in a community.

The cons of purchasing a home

  1. The possibility of foreclosure in the case of a mortgage
  2. Capital intensive endeavor
  • Maintenance and repair costs together with home insurance and property taxes.
  1. Possibility of loss in home value.

The pros of renting

  1. Monthly costs are fixed.
  2. Savings can be used to invest in other possible options
  • One can move depending on personal, locational or economic factors.
  1. No need to save up on thousands of dollars for down payment and other costs.

The cons of renting

  1. Limited control on the property details.
  2. Possibility of rent increase.
  • Termination of lease pegged no several factors.
  1. Reduced feel of stability.


From the information availed above, one can appreciate the intricacies that come with property. To make that all important decision, you may need the expertise and advice of a professional in the real estate field.

For those investors, individuals or households looking to invest in Tucson real estate, there is no better property partner to rely on. Sapphire Capital Investment LLC has been on the forefront, offering professional advice over the years. We have experience and expertise in all aspects of real estate and promise to offer a customized solution that meets your financial and personal needs.

Reach out to us today.

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