A man holding some house keys in the foreground and a model house in the background

Rent vs. Buy a home in Sterling, VA – things to consider

If you are searching for a home in Sterling, VA first of all we wanted to tell you that you chose a great place. Now, the first thing that comes to mind is the ultimate question “is it better to buy or to rent”. Unfortunately, we cant tell you what you should do because in the end decision needs to be yours. What we can do is show you some things you need to consider and show you the pros and cons of both options.

Then you will be able to sit down, think about it for some time, and make a decision on your own. Then you will know that you made the best possible decision for you (and your family if you are moving to Sterling with your family). Now, let’s see what we found and what the experts had to say about it. Of course, we will also show you how to move to Sterling. Relocations can be quite tough and truth be told it is better to focus on things like making a serious decision like this one. You can leave the rest to the professionals.

Let’s start from the beginning

In the long run, buying a house or an apartment can be a great investment. It’s a myth that renting is a bad investment. In some cases, it may actually be the better option. When it comes to if you should buy or rent a home, there is no clear answer. The best choice depends on your financial situation, lifestyle, and a variety of other factors. Now, let’s see some pros and cons of buying or renting a home.

A young looking for a home in Sterling online
Your financial situation also plays a big role but since that is an individual thing we won’t be talking more about money.

Buying a home in Sterling – pros

  • You will be able to build equity. It’s like investing in yourself and in your future. When it comes to Sterling the prices are growing every few years so in ten years your home will be worth much more (or so it looks like, no one can predict the future). The more you pay off your mortgage, the more equity you’ll have in your home. You can use the equity as collateral for large-scale loans. It’s also possible to recoup some of your initial investment by selling the house and using the proceeds to buy another home.
  • Tax incentives! When you file your taxes each year, you can deduct the interest, taxes, and improvements you’ve made to your home.
  • Personalize your house to your liking. When renting, your landlord may not always allow you to make changes. Nonetheless, you have the ability to make changes when you own the property. Any major changes should be authorized by the neighborhood homeowners associations – but only in some areas like downtown and such).
  • You can always easily add value to your home.

Buying a home in Sterling – cons

  • Maintenance!  When you rent a home, the landlord needs to take care of all the maintenance and repairs that need to be done. As soon as you buy a house, you’re responsible for all of its upkeep.
  • Less room for maneuvering. When you own your own home, it’s harder to pick up and relocate than when you rent. In order to buy a new place, you’ll have to put your old home on the market, work with a realtor, and shell out cash at closing.
  • There is always a chance that the value of your newly bought home could decrease
  • Buying a condo or a house is always a risky business

Renting a home in Sterling

  • The prices are on the lower side right now
  • There is plenty of available homes so you can take your pick
  • Sterling residents are friendly so you might get a nice landlord
  • You have the freedom of picking up and going whenever you want, wherever you want

Renting can be great and it gives you a lot of freedom. But when you calculate the costs it is more expensive to rent than to buy. Of course, this is easier said than done. There are many things you need to consider if you plan to buy a home. Let’s see what is there to consider now and once you are done considering you should call Zippy Shell NV to help you out.

A mother and a grandmother on a birthday party of a little girl.
You won’t be able to decorate the home to your liking when renting because it’s not yours.

Do you know about upfront costs?

The down payment is the obvious upfront cost. Down payment is usually about 10%.  In many cases, a conventional mortgage can be obtained with as little as a 3% down payment. In addition to the upfront costs, you should also take into account closing costs. This could include an appraisal, an insurance fee, a loan origination fee, or some amount of property taxes that need to be paid at closing. What is your goal for your savings at the end of the deal? You will put yourself at some risk in the event of an emergency if you use all of your money to buy a house? These are just some of the things you need to consider before making a decision.

When the relocation comes

When it comes to moving to Sterlin we advise you to enlist the help of skilled people. Relocations don’t have to be hard on you at all. Just imagine how tired you will be when you relocate but the work won’t be done. You will need to unpack and settle in. Or you can let movers deal with that and soon enough you will be able to start exploring Sterlin relaxed and ready.

A couple packing for a move to a home in Sterling
Relocation will be your last step.

Good luck!

The last piece of advice we have is that no matter if you are buying or renting a home in Sterling (the decision is all yours), you should still find a local realtor to help you find that perfect place. Good luck and, hopefully, you will choose the option that suits you best!

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