Buying Vs Renting In Temecula

Do you need assistance to:

Buying a home?

We will successfully help you through the buying process. From showing properties, writing offers and negotiating the best terms for you, we will make the home buying process FUN! Click Here to Get Help Buying!

Selling a home?

With over 20 years of appraising and valuing property, we will have a full ACCURATE value and net sheet within 24 hours. Click Here to Get Help Buying!

Recent Blog

Buying Vs Renting in Temecula

For anyone thinking of moving to Temecula, this blog post will give you a really good idea of buying vs renting in Temecula. The video in this blog post goes over exactly what the average home in Temecula rents for as well as what your payment will be when purchasing an average priced home in Temecula. 

First, I wanted to start out with the Pros and Cons of both renting and buying a home in today’s market.

Pros of Renting in Temecula

A few of the  Pros of renting in Temecula  are as follows: If something breaks in the house you don’t have to worry about paying  to replace it

  1.  You don’t have to worry about paying taxes, HOA or insurance
  2. You  don’t have to pay for upkeep like yard work or pool maintenance
  3.  if the property does have an HOA with a pool, hot tub, barbecues you have full use of all of those amenities without having to actually pay for the HOA.
Cons of Renting In Temecula
  1. You are paying somebody else’s mortgage
  2.   I  have rented and purchased homes in my life. The feeling you have when you own your own home is much different than renting. You’re more apt to put your own personal touch on a home you own, spend money upgrading different things or even be more conscious about taking care of the property.
  3.  You don’t know how long you will be able to live at the property. You could rent for one year, love it and the landlord decides to sell and you have to move again.
Pros of Purchasing a Home in Temecula

       1.  You can write off both your interest payments and taxes.

       2.  You can take advantage of today’s low rates. We are still in historic territory in regards to how low-interest rates are. It’s not a bad thing to be boring money at 4% or              less.

       3. You get to put your own personal touches on your home. If you want to add a built-in BBQ, you can do it. If you want to paint your house, you can do it. If you want               to put hardwood floors in you can do it. These will all make your home more sellable in the future.

Cons Of Purchasing A Home in Temecula

      1. Yard maintenance is yours to take care of. If you don’t want to take care of your own landscaping you’re going to have to hire somebody to do it.

      2. If you own a pool, you will have to take care of that yourself or hire somebody to do it.

      3. You have to pay your HOA, taxes and general upkeep. If your water heater goes out, you’re on the hook for that.

 If you are buying an average home in Temecula (2100-2400 square ft,) with 10% down, your payment will be $2,600- $2,900 a month. If you are renting a home in Temecula that is 2000 sq ft – 2300 sq ft, you can expect your payment to be from $2,200 a month to $2,700 a month. 

Thank you for reading our blog, we are  a local husband and wife real estate brokerage (Greenleaf Real Estate) and Appraisal Company.

If you have any questions regarding real estate in or around the Temecula area, please don’t hesitate to call us. We have some great VIP programs for both buyers and sellers. 

We have included a local customizable home search for you below

$1,399,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
3,027
SQFT
34020 Madera De Playa Dr
Temecula, CA 92592
Temecula Subdivision
$1,500,000
Land For Sale
Active
4.51
ACRES
RIVERSIDE
COUNTY
Calle Contento
Temecula, CA 92592
 
Price Change - a week ago
$2,150,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
3,336
SQFT
33905 Pauba Road
Temecula, CA 92592
Not Applicable Subdivision
$600,000
Land For Sale
Active
1.88
ACRES
RIVERSIDE
COUNTY
Vineyard Vista
Temecula, CA 92591
 

Are you ready to
Buy or Sell Your Home?