Welcome to the charming borough of Elizabethtown, a steadily growing area in Lancaster County. Lovingly referred to as E-Town, Elizabethtown is home to a variety of attractions, from the nationally renowned Elizabethtown college to the collection of microbreweries and local boutiques. We can't wait to help you find your place to call home here!
As you begin planning your big move to the area, you might be trying to make a choice between renting or buying your new home. There are tons of benefits to both options, but in the end it really depends on what's best for your situation. If you're still wondering whether you should commit to buying or renting, take a look at how we breakdown the decision for the Elizabethtown area.
For many people making the renting versus buying decision, the down payment is the decision-making factor. With rent — although it's likely to occasionally increase — it's easier to budget those smaller monthly payments, even though they can be more unpredictable that a fixed mortgage. Plus, since you typically don't have to worry about making your own repairs, there's less of a chance of unexpected issues throwing a wrench in your budget.
One of the greatest parts of buying a home is that all of your payments go towards ownership. In addition to being able to customize your space more, the mortgage you pay every month will eventually come back to you in the form of equity. Plus, making those payments gives your credit score a nice boost!
The biggest freedom that comes with renting is the ability to pick up and move as soon as your lease is up. But starting a new lease means expensive deposit fees, long days of hauling boxes, and setting up your home all over again. Plus, if you have pets you may need to pay extra just to have them indoors.
More Questions on Buying vs. Renting in Elizabethtown?
If you have any other questions or concerns, the John Smith Team has got your back. For us, the most important thing is to find a home that best suits your current living needs, whatever they may be. To learn more about the benefits of buying vs. renting in Elizabethtown, PA, contact our team today!