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Buying VS Renting a Home in Virginia

The usual way of thinking about buying a home in Northern Virginia is that it is less expensive to rent than to buy. For some people, this is still true. However, as rents increase and property values increase in northern Virginia, buying a home in northern Virginia is becoming a real money-saver. Should you really buy a home, or should you continue to rent in northern Virginia?

Before getting into the actual costs of buying a home, let’s consider both the advantages and disadvantages of buying a home in northern Virginia. It is important to look at these before making the leap.

Buying and owning your own home in Northern Virginia is more complicated than just having the money for the down payment and monthly mortgage payments. Owning a home in Northern Virginia requires a tremendous commitment of funds, time, and attention.

  • Is home ownership the right path for you?
  • Should you rent instead?
  • How fast will your family grow and how much space is needed for your family and their activities?
  • How much money do you have to pay for housing?
  • When is the best time to buy a house?