If you’re just moving to the Schertz area, you may be considering renting instead of buying. It’s easier, faster and maybe, just maybe, it’s cheaper, right?
In fact, renting can actually turn out to be much, much more expensive for your household in the long run … especially in Schertz.
You see, properties in this area are pretty affordable … actually, they’re REALLY affordable – especially when compared to other neighborhoods in and around San Antonio.
Plus, there’s lot of inventory. That means sellers have to compete for buyers. For you, that can equal easier negotiations, more choices in properties and thousands of dollars in savings at closing (and over the course of your mortgage.)
Here are a few other reasons buying is cheaper than renting:
- Your landlord wants to make a profit. Your landlord isn’t letting you stay on their property out of the goodness of their heart. It’s a business for them, and they want to make as much money as possible from it. Sure, they need to cover their mortgage payments, escrow and property taxes, but they won’t stop at that when setting your rent. You can bet they’re going to work in 200, 300, 400 or even more a month just in pure profits. Couldn’t you think of a better way to spend your money than to simply line someone else’s pockets?
- You’re not gaining any equity. Every month when you pay your own mortgage payment, you’re gaining equity. Even if you only stay in your home a year, that’s a year’s worth of equity you gained, and as long as you keep the home in good condition and the market is similar or better when you sell, you will stand to make a return on your original investment. That’s money you can use toward a newer, bigger home, toward moving costs, toward a vacation, or toward anything your heart desires.
- You’re not helping your credit. When you pay off your home’s mortgage every month, it’s improving your credit history and your FICO score. Both of these increase your access to other lines of credit – real estate you might buy in the future, credit cards, student loans, car loans, and even loans on furniture and other household items. Having good credit is crucial to financial stability, and while renting won’t hurt your credit, it won’t do anything to improve it either. In fact, you’ll only just help your landlord improve theirs!
- Schertz is affordable. We mentioned it earlier, but Schertz real estate is quite affordable. Homes start in the low $100,000s, with newer, larger-sized homes in the high $100,000s and low $200,000s. Depending on your credit and mortgage rate, a mortgage payment could be anywhere from $500 to $1000 per month. But renting? You can expect to pay $1500 to $2000 a month for a nicer property. And that doesn’t even include the utilities and other amenities apartment complexes typically pay for.
It’s a pretty common misconception that buying is more expensive than renting. Sure, you have to put down a down payment in order to buy a home, but nowadays, many people can secure a loan the requires only a 3 to 5 percent down payment … not 15 or 20 percent like past generations had to fork over. With Schertz home prices, that’s only a few thousand dollars, and then, you have a home of YOUR OWN, that improves your credit, gives you equity and allows you to update and decorate as you please.
The Key to Buying RIGHT
If you’re new to Schertz, you may be hesitant to buy right off the bat, simply because you don’t know that area that well. The answer to this problem? Call in someone who does.
We here at the Claus Team specialize in helping newbies find the right property, in the right area, at the right price, and we know Schertz like the back of our hands. We can help you find a home that’s not only affordable, but one that’s fits your households needs regarding size, style, age and more. We will even tour them with you (or on your behalf) and walk you through the entire buying and closing process. Best of all? We’ll negotiate on your behalf, so you get the absolute best deal possible.
If you’re moving to Schertz and are on the fence on renting vs. buying, call the Claus Team first. We’ll help you get to know the market – and what it’s currently offering – before you make your big decision. We’re here to help!