Buy Vs Rent A House In Florida

Buy Vs Rent A House

An age-old question is which is better to buy vs rent a house in Florida. Both sides do have their pros and cons. If you are planning to move to the sunshine state here are some advantages and disadvantages of buying or renting a home. Everyone is different and everyone has different needs and abilities. This makes the answer more complicated but hopefully, this article can help you make a decision. Nether renting or buying is better they both have their strength it is just a matter of figuring out what works for you. If you do choose to buy here is a good post about the pre-approval process.

Should I Buy VS Rent A House

Firstly break down your needs and wants. This will help you narrow down if you fit in either the buying or renting category. Things to consider are

  1. How long you plan to stay in the area: If you plan to stay in the same area for more than five or seven years you should buy it. Renting is more short term and if you are in the same home for those years all that rent money could have gone towards a mortgage.
  2. Do you like stability or flexibility? Buying is a commitment and if you like flexibility then buying is not the way. Renting allows you to move in and depending on the contract move out quickly if you do not like it. Renting allows you to see more of the area from different neighborhoods.
  3. What can you afford? Buying requires much more capital and credit than renting and is something not everyone can just do. Many times people start renting for two or so years than try to get a mortgage. This also ties into the first question on how long do you plan to stay in the area.
  4. What is your roommate or family plans? Renting is a great way to also meet new people through roommates. But if you are planning to start a family, buying a home can give you room to grow and more stability. Again this ties into question one and time.

Takeaway: In short it is all about time a good rule is renting is short term and buying is long term when it comes to buy vs rent a house.

Pros And Cons Of Buying A House


  • Greater privacy, When buying you become the owner and the only allowed person on the property unlike renting.
  • Long term investment, Property values generally increase over time and can be a good investment in some areas.
  • Building equity, A house can be a huge aspect of equity.
  • Room to grow, Owning a house allows you to make necessary renovations on the property as you see fit.
  • Having Pets, Some rental properties do not allow pets of any kind.
  • Stability, If you have a fixed mortgage you know what the payments will be.
  • Building credit, As you pay your mortgage you are building credit.


  • HOA dues, depending on the neighborhood there might be HOA dues.
  • Unexpected maintenance, Things can break unexpectedly and you need to pay for it.
  • Lawn care, If you have HOA dues than there are lawn requirements on how your lawn must look.
  • Less mobile, If you want to move you need to sell the house or find a tenant.
  • Taxes and insurance, extra costs you need to pay for.

Pros And Cons Of Renting A House


  • Easy to move in, Renting a house is much easier than buying a house.
  • Easy to move out, Depending on your contract you can stay as short or long as your landlord allows.
  • No repair costs, It is not your property so you don’t need to do maintenance.
  • No HOA dues, Again you do not own the property so you do not need to pay dues. Some rent might go towards that but it’s not your responsibility.
  • Rent might be cheaper than a mortgage


  • No credit score improvements, You are not gaining credit from paying your rent each month.
  • Rent might go up, the landlord can increase rent unexpectedly. Check out this article talking about raising rent prices.
  • You can not change the property, You will need the owner’s permission.
  • The property might feel dated, the owner might not make cosmetic repairs so the house can feel dated.

Buying A House In Boca Raton

Boca Raton is where our main office is located and where we do most of our business. If you are still not sure about if you should buy vs rent a house in Florida read our Boca Raton page where you can see the perks of living in Boca Raton.

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