Coldwell Banker Vanguard, REALTORS®

Should You Rent or Buy Springfield, Ozark, or Nixa homes?

Posted: October 02, 2015 by Alex Fowler

Four Financial and Lifestyle Questions to Consider Before Buying or Renting

Buying or renting? This is a question that many of us have asked ourselves at one point. Whether you are looking for Springfield homes, Ozark homes, or Nixa homes, you will have to chose whether or not you wish to buy or rent. Each option has its own different benefits, so which benefit is better for you?

Deciding to buy a home is one of the largest financial decision in your lifetime. Before making the decision, here are four financial and lifestyle questions to consider when determining if buying a home is the right decision for you:

Are you going to stay in a home for an extended period of time?

Buying a home usually is proven to be one of the safest investments someone can make. However, it is important to understand that investing in a home is much more different than investing in a stock portfolio. Home owners build their equity through monthly mortgage payments while a home typically appreciates in value over time. If you plan on staying in a home for only a couple of years, it doesn’t mean that buying is not for you. Rather it means you are not as likely to see a significant financial return on your investment in that short of time.

Are you planning on selling a house in order to buy a house?

Agents at Coldwell Banker Vanguard, REALTORS® can help you understand current local market conditions. They can also help you make smart decisions when listing a home on the market. If you do not currently own a home but you need to sell a home before purchasing a new one, now is a particularly smart time to buy. Even with it becoming increasingly more difficult for the approval process from lenders, mortgage financing is still widely available for those who have a steady income and a good, solid credit score.

Do you have a steady income?

One big question that many consider is whether or not they can afford to buy a home right now. If you have a steady income and a good credit score, buying a home remains a sound financial decision. There are buy-versus-rent calculators available at, to help make your decision, but there are other factors beyond straight economics that also need to be considered. Don’t hesitate to speak with our real estate professional even before you’re ready to buy a home. They can help you answer any questions that you may have.

How do other options compare?

For renters, calculating the month-to-month housing expenses are fairly simple. Understand how much rent is plus add average utility costs. However, the calculation for the monthly cost of owning a home gets a bit more complicated. Again, contact our real estate professionals so they can help you understand a range of financial considerations from annual property taxes to the tax incentives for owning a home. Then you can understand what fits you best.


To get started looking for Ozark, Nixa, or Springfield, MO homes for rent or to buy visit:


If you have any questions or need advice about a home, you can contact our Springfield, MO real estate agents below or call our office at 417-887-6664.

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