BUY VS. RENT

Buy vs. Rent

Is it cheaper to buy than to rent?


That is the 20,000 dollar question! The short answer is yes – kind of. If you pay rent for the same length of, say, a 15-year fixed-rate mortgage, your monthly rent payment is likely less than the monthly mortgage payment on a 15-year mortgage. But at the end of those 15 years, as a renter you don’t own the property; while as a homeowner, you do.


One advantage of being a renter is that you do not have to pay for upkeep and maintenance. If you bought a home that needed massive amounts of repairs, you may end up spending more than the renter over those 15 years. Still, even after paying more, you have an extremely valuable asset when the home is paid off. It can be resold for more than what you paid for it and you have equity that you can borrow against that a renter does not.


For Buyers


If you are thinking about buying a house, getting your finances in order should be at the top of your checklist. Long before you start looking for houses, ideally years before, you need to start improving your credit score. Although standards fluctuate, if you want to get a good rate, your credit score should be at least 720. Spend a few years:


  •     Paying off debts
  •     Updating your credit report
  •     Making payments on time
  •     Increasing your income
  •     Building up savings for the down payment


Once your finances are in better shape, it’s time to get organized for a home purchase. This involves choosing a loan type, shopping for a loan, and getting a pre-approval letter from your lender. Your bank will base your qualifications on a number of criteria. Some of the financial paperwork you will need to show your lender includes:



  •     Proof of income
  •     Amount of savings
  •     Assets or collateral
  •     Employment verification
  •     Credit report
  •     And Identification information, i.e., social security card and driver’s license

Frequently Asked Questions

  • Who is Jeanie Wakula?

    Jeanie Wakula is a top realtor for the St. Louis area. Jeanie works with her team to provide you exceptional real estate services. Being a top realtor goes further than helping people to buy and sell houses. Foremost there is integrity, community, market knowledge, and effective negotiating skills, which are all qualities Jeanie commands as a top realtor. She started her real estate career in 2006 and has been a full-time active agent in a broad range of transactions. In her experience as a sales professional, she has found that providing the best service is about putting her clients first by keeping herself accessible, being a good listener, as well as a good communicator. She strives to make sure her clients’ needs come first without sacrificing the quality of service they deserve. With this mindset, Jeanie has demonstrated her skills as a top realtor. When you need the top realtor in the area, reach out to Jeanie Wakula for exceptional service.

  • Why should I use Big Bend Realty, LLC for my realty needs?

    Big Bend Realty is a locally owned and operated real estate agency. Our team brings exceptional personal service to every client, offering you professional realty services across the region. No other real estate team can get you the results you want while giving you the same high level of undivided attention throughout the entire process. Big Bend Realty stands out from other real estate brokerage firms because of the value we place on our clients. Our ultimate priorities are empowering clients to make smart decisions, marketing your homes so you get the best price, and finding a home for you that you will totally love.


    We go above and beyond to give you an outstanding, totally satisfying full-service experience, including buying and selling your home. When you are a homeowner looking to make a move, it is important that your real estate broker listens to your needs and desires, but it’s also crucial that they know how to market your home. And if you’re looking for a new place to call home, we find options that are in your price range and include everything you want, so you can choose where you want to put down your roots without giving up anything you’re looking for. We guarantee that no one will give you the same level of attention and care as we can while providing a successful real estate transaction for you. When you give us a call, you will be connected directly to our friendly staff, so you can expect immediate attention to your inquiry. So don’t wait. Call now!

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