Why Spending more than $884/mo on Rent is a bad decision
Every guy dreams about owning a chainsaw. The smell of the 2-cycle fuel burning as the chain rips through a mighty tree trunk is the stuff legends are made of. As badly as I have wanted to own this manly symbol of authority all my life, I've never bought one. In fact, a couple months back I had some trees that needed to be relocated (from the ground to the wood pile) so I went to Home Depot and rented a chainsaw. I got to "really live" for the weekend with the sound of pistons pumping, wood chips flying, and my 4 kid fan club clapping. It was amazing, but on Monday I took it back and got my security deposit returned.
When it comes to houses, it's a whole other story. There are pros and cons to each, but The New York Times put out a great breakdown, and a calculator that makes it easy to know when NOT to rent. What I love about this article is the BOLD number they came up with: If you can rent an amazing house for $884/mo, then rent. If not, then it's time to buy.
We have spent over 15 years helping the people of Las Vegas purchase homes. In that time we have found that it's almost always better to buy than it is to rent. Even if someone only has $1000 to their name we are still able to put them in a house they can call their own.
The Joe Taylor Group has one of the easiest tools in the industry when it comes to finding homes. Our search engine pulls the latest properties from the MLS so you can see if there's something out there for you. Once you find a house that works the fun begins!
Keep us in mind the next time you make your rent payment. We promise that owning a house is almost as much fun as owning a chainsaw!