Is renting a home better than buying?

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Real Estate

Is Renting a home better than buying a home?  How to get the most 'bark' for your buck...

The market in Fort Walton Beach, Destin, Navarre, and Niceville has been in high demand for renters and buyers alike.  Whether buyers are interested in the area for retirement or PCSing on military orders to the Emerald Coast this is a very popular location to live.  As a Real Estate professional I have clients requesting a list of homes to rent regularly. Especially active duty military on orders to Eglin, Hurlburt, 7th group, and Duke Field...sound familiar?  Read on, especially if you have pets!

One thing that usually disqualifies renters is pets.  "NO dogs, NO cats, NO pets" or breed restrictions are commonly found on rental listings.  So what do you do?  Keep looking....and settle for something that doesn't fit your needs or when you do find the home that allows pets it has a nonrefundable pet fee of $500-1000 dollars!  That money adds up especially when first and lasts months rent are held as security deposit. Let's say, for example,  the security deposit is $2500 for a $1250/month 3 bedroom home in Fort Walton with a nonrefundable pet fee of $500 per pet. You have a cat and a dog.  That means you are walking into a rental property with $3500 down and not guaranteed to get any of that money back at the termination of the lease.  Plus, the property isn't your own investment!  

Pet owners can benefit from home buying more than most because of the exorbitant amount of fees, carpet cleaning requirements, breed restrictions, lack of fencing, etc.  If you were living here on military orders for 2 years and purchased a home (for the same amount of money monthly---yes this is possible due to low interest rates!) that would be your investment!  When you are due to PCS or move out of the area you can decide to sell or rent out your own house.  Speaking from personal experience, we bought our home 17 years ago, lived in it for 4 years and rented it out for 10 years.  We were able to PCS back to Hurlburt Field and are living in our same home.  We have a lower monthly payment, we have our miniature schnauzer Baxter and our cat Sofia and we can spend that extra money on updates, treats, and enjoy our home without having to spend more $$ for towards someone else's investment. 

I'd love to help you find the home that is right for you.  I also have an in-house lender that is well-versed in VA Loans and Conventional financing if you are interested in seeing what that would look like.  My cell is 850-999-3889.  You can also browse here on the website!  Feel free to call/text me anytime.