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Buying & Selling Real Estate

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Brad H.
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  • Rental Property Investor
  • Granbury, TX
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Buying vs Renting your personal residence in the current market

Brad H.
Pro Member
  • Rental Property Investor
  • Granbury, TX
Posted Jan 27 2024, 10:28

In the current market we are in (inflation, rates, housing market uncertainty, etc.) what are your thoughts on buying vs renting your primary residence?  

I own a small portfolio of SFH and a couple of duplexes and we have been renting our residence for the past year. Our lease is coming up in a month or so and while we do plan to stay for another year because of our kids I have started to think more about buying. If I buy another house we would have to downsize but our monthly mortgage would still be higher than what I am paying for rent. I know that depending on who you talk to, your primary is not an asset because it does cost you money each month but I still struggle with paying rent and not building any equity.

What are your thoughts either way?

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Ko Kashiwagi
  • Lender
  • Los Angeles, CA
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Ko Kashiwagi
  • Lender
  • Los Angeles, CA
Replied Jan 27 2024, 10:43

Hi Brad,

Have you considered house hacking? If your expenses after renting out the other units/rooms is lower than what you would pay for rent, this would allow your to buy another property while paying less monthly.

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Brad H.
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  • Rental Property Investor
  • Granbury, TX
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Brad H.
Pro Member
  • Rental Property Investor
  • Granbury, TX
Replied Jan 27 2024, 10:51
Quote from @Ko Kashiwagi:

Hi Brad,

Have you considered house hacking? If your expenses after renting out the other units/rooms is lower than what you would pay for rent, this would allow your to buy another property while paying less monthly.

I have and once we do buy it will be with an ADU that we can STR but just wanting others opinions on what they see or do at the moment.
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Crystal Smith
  • Real Estate Broker
  • Chicago, IL
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Crystal Smith
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied Jan 28 2024, 11:48
Quote from @Brad H.:

In the current market we are in (inflation, rates, housing market uncertainty, etc.) what are your thoughts on buying vs renting your primary residence?  

I own a small portfolio of SFH and a couple of duplexes and we have been renting our residence for the past year. Our lease is coming up in a month or so and while we do plan to stay for another year because of our kids I have started to think more about buying. If I buy another house we would have to downsize but our monthly mortgage would still be higher than what I am paying for rent. I know that depending on who you talk to, your primary is not an asset because it does cost you money each month but I still struggle with paying rent and not building any equity.

What are your thoughts either way?


 I think you answered your question with your last statement- "I still struggle with paying rent and not building any equity".   Buy.

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Wale Lawal#2 New Member Introductions Contributor
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
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Wale Lawal#2 New Member Introductions Contributor
  • Real Estate Broker
  • Houston | Dallas | Austin, TX
Replied Jan 29 2024, 10:40

@Brad H.

There are a number of personal and practical concerns when deciding whether to buy or rent a primary residence. Given the state of the market, keep the following considerations in mind:

Buying a Primary Residence:

Pros: Building Equity, Stability, Potential for Appreciation

Cons: Upfront Costs, Responsibility, Market Uncertainty

Renting a Primary Residence:

Pros: Flexibility, Maintenance Responsibilities, Fixed Monthly Costs

Cons: No Equity Buildup, Limited Control, Rent Increases

Ultimately, your particular situation, financial objectives, and personal tastes will determine whether you should buy or rent. Consider the benefits and drawbacks in light of your present circumstances and goals for the future. Making an educated selection can be aided by speaking with a real estate agent and a financial advisor who can provide you individualized advice.

Good luck!