RENTING
Postives: When you rent a home, you have little or no responsibility for its maintenance. It is also easier to move out of a rental unit property since you don't have to sell your Trumbull property to move into another one. And lastly, you don't have to provide any closing costs, home-buying fees or property taxes.
Negatives: Renters receive no tax benefits. You have no control over how much your rent will increase. You never gain equity in the home, no matter how long you live there. You have to wait for the landlord to take care of any problems with plumbing, broken items, etc. Many landlords do not allow pets or want extra security.
Find out what's happening in Trumbullfor free with the latest updates from Patch.
BUYING
Find out what's happening in Trumbullfor free with the latest updates from Patch.
Positives: When you own a Trumbull home, you build up equity the entire time you live there, giving you security and stability. Very importantly, you can re-model, re-landscape or re-paint whenever and however you want. You don't have to wait for anyone to take care of problems. Your taxes are deductible.
Negatives: Being a homeowner means the responsibility of maintenance and repairs and paying property taxes (of which a portion is tax deductible). If you cannot pay your mortgage, you face the possibility of foreclosure. If you must move, you will need to sell before you can buy a new home. Please consider the pros and cons of buying versus renting one when deciding whether you want to pay rent or invest your money in a Trumbull home.
When you decide to buy or rent a new property, please feel free to contact me and I will give you the expertise of 26 years in real estate. Contact me at Coldwell Banker, 203-453-3700 or 203-260-0871.
