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Should You Rent Or Buy A Home In Phoenix?

renting versus buying a homeToday I was working on a clients website when I heard a story on Channel 3 about a rental company called RentalWall.com. I leaned back in my chair and separated myself from my computer [not an easy task by the way] for a few minutes when they started talking about the benefits of renting a home in Phoenix. I am a former title rep for a national title insurance company here, in Phoenix Arizona. I spent 10 years working with some of the best real estate professionals in Phoenix.

It got me thinking. If I was moving to Phoenix, Arizona from another state would I be better off renting or buying my next home? You may have the same question. Given the economic climate we find ourselves in today, [property values down 55.9% since 2006] is renting a home in Phoenix a smarter decision than buying? The founder of RentalWall.com discussed some of the benefits of renting a home here in Phoenix. They included:
 

  • Flexibility
  • Hassle Free Way Of Living
  • Low Maintenance Costs
  • Freedom To Move
  • Great Deals
  • Credit Standing [I’m assuming he meant Dings on credit are OK]
  • Quality Of Life

Maybe it’s me but I thought it was a rather one sided story, it got me thinking, what are some of the benefits? Is renting a home in Phoenix a smarter decision than buying? Well, first of all, I think we need to remove the “smarter” or better” mentality. Everyone is going to be in a different situation. Yes, the housing market is down 55.9% since 2006, but is that a bad thing? If you are an owner [like me] yes, but not if you are a buyer. If you are a buyer you have the opportunity to buy a $100,000 house for $44,100! Let me say that again, $44,100! That seems like a benefit to me. Other benefits of buying a home in Phoenix include:

  • Affordable Prices
  • Affordable Payments
  • Record Low Interest Rates
  • It Usually Appreciates [usually]
  • Tax Deductions [property tax, mortgage interest etc]
  • Flexibility – want to paint your family room Green? Go for it – it’s yours – you own it!
  • Stability
  • You’re Not Renting!

Owning your own home IS part of the American Dream, a dream millions look forward to. The decision to rent or buy a home in Phoenix can be a hard one. Either way, Phoenix is a great place to call home. Whether you decide to rent or buy – welcome to Phoenix. It’s a dry heat!


Looking for a REALTOR to help you buy or rent your next home in Phoenix? After 10 years in the title industry, I know some of the best. Contact me below and I will pair you with an area expert to help you.

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Stephen

Hi I'm Stephen Garner, I'm just a guy in the title industry {in Phoenix} trying to change how real estate agents market themselves and their services. To that end, I teach my clients HOW TO leverage sales technologies like WordPress, Content, Video, Camtasia, Final Cut X, iMovie and indexable IDX solutions to convey value and help your ideal client find you online when they are most interested in learning about you and your services. I work for escrows. Hire me!

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