Is Buying a Townhouse a Good Investment?

The number of people renting homes today is the highest that has been seen over the past half a century. It’s estimated that more than 30% of Americans are leasing, which highlights the potential of investing in real estate in terms of rental income. 

For many investors, townhouses are attractive investment vehicles because they have low maintenance costs, come with several communal amenities, and are relatively inexpensive. What’s more, because they come as package deals with land included, investors can expect their value to appreciate over time. 

There’s no better time for real estate investors to invest in strata-titled properties such as villas or townhouses. So if you’ve been wondering, “Is buying a townhouse a good investment?” then stick around as we take a deep dive into townhouses, real estate market value, as well as the pros and cons. 

And if you think a townhouse seems like the right investment for you, check out Zumbly to look for townhouses available in your area. 

But first, let’s be clear on what a townhouse is and isn’t.

What is a Townhouse?

A townhouse, aka rowhouse, refers to one unit among several properties that are typically attached to a much larger unit. What makes townhouses distinctively different from detached houses is that the house is conjoined with other properties. 

What’s more, unlike apartments that are leased out, townhouses have one or more owners. They are properties with their backyards plus a shared common space between the larger units. They are broadly classified into two main categories, i.e., a regular or corner lot. Unlike regular lots, which are attached to two properties on both sides, corner lots are only connected to a single unit on one side. 

Townhomes typically come with amenity and maintenance fees used for caring and maintaining those communal areas. Additionally, they might be part of an HOA or Homeowners Associations that’s responsible for organizing landscaping and maintenance. 

Some of the other things that may fall under the HOA purview include removing snow, taking care of the pool as well as scheduling time to use common areas such as event rooms or clubhouses.

2020 Real Estate Market Values

As a budding real estate investor, one of the first questions that come to mind is whether or not 2020 is a great time to buy a home. To provide the most accurate answer to this question, we need to look at the current trends or predictions of the real estate market. 

The year started on a high note thanks to soaring market prices, reduced mortgage rates, and an explicit seller’s market. Towards the end of 2019, mortgage rates were set to increase to 5.8%, but this shouldn’t be a deal-breaker because it’s at an all-time low. 

It’s glass half full or empty situations; on the one hand, sky-high mortgage rates deter home buyers from buying while on the other they’re effectively eliminating competition in the property market. That said, real estate market prices are expected to stay the same or drop thanks to a decline in the number of buyers. 

Related: Housing Market Predictions for the Next 5 Years

Is Buying a Townhouse a Good Investment? The Pros

living room with dining table in townhouse
  • Reduced costs and better financing: one of the most significant financial benefits of investing in a townhouse for rental purposes is the overall cost of owning and maintaining one. Compared to a single-family home, the costs of owning and maintaining a rowhouse are considerably lower, making it an excellent option for those working with a tight budget. While the cost of maintenance might seem like a disadvantage at first glance, they’re not. That’s because it absolves you of the responsibility of taking care of expensive and labor-intensive maintenance around the property. This means that tenants can access amenities, all of which are maintained by the HOA. That said, the responsibility of maintaining the exterior and interior of the unit lies with the owner. What’s more, depending on which suburb the townhouse is, you might be eligible for a 90% LVR if you’re buying to own or 85% LVR for if you’re buying as an investment.
  • Minimal maintenance: In most cases, townhouse owners are subject to a monthly maintenance fee that goes to the HOA towards caring and maintaining for the entire complex. As we mentioned earlier, while the association is responsible for a significant percentage of maintenance, some of these responsibilities fall back on the owner. Some of the duties of the HOA include taking care of dog parks, scheduling time for recreational halls as well as caring for other communal areas. They may also be responsible for maintaining the lawn, roof, and pool; however, more often than not, these responsibilities fall under the owner’s purview.
  • Location, location, location: one of the most common deal-breakers for investors or homeowners is the location of the property. Most townhouses are typically located in areas surrounded by a variety of amenities such as gyms, pools, golf courses, etc. as well as public infrastructure, including schools, transportation means, and so forth. Highlighting access to these facilities is a great marketing tactic for attracting potential tenants. What’s more, the proximity of townhouses to these and more amenities allows for tenants to lead the coveted “lock and leave” lifestyle. Additionally, if the location of the townhouse is in an area with growth potential, then it will appreciate or retain its value if history is any indicator. Moreover, because most townhouses are located in safe and secure environments, they help build a tight-knit community with plenty of opportunities for social interactions, all of which contribute to the rental or resale value of the property should the time come.

Is Buying a Townhouse a Good Investment? The Cons

  • High upfront costs: one of the main downsides of buying a townhouse as an investor is the considerably high startup costs. Most homeowners or investors don’t have a ton of cash lying around, which means that they’ll have to get some sort of mortgage financing to buy a townhouse. That being said, it’s worth noting that townhouses come with their own set of limitations, which makes it difficult to get financing. This is because lending institutions find it difficult to appraise and classify townhouses accurately. More often than not, mortgage loan providers underwrite townhomes the same way they would condos, which significantly increases mortgage rates. That’s because condos usually have more restrictive and expensive mortgage financing options. When buying a townhouse in an area that’s chock-full of them, it’s essential to find a mortgage lender experienced, and one way of doing this is to find other townhome owners and ask them to give you a referral.
  • Slow rate of appreciation: Contrary to popular belief, real estate investors don’t make all of their money from leasing out properties. The property’s resale value also plays a significant role in that equation, so be sure to remember that when shopping for a townhouse. That’s because as substantial an investment as purchasing a townhome is, it can be challenging to raise its value. Compared to detached single-family homes, townhomes rarely or slowly appreciate if at all, and that could end up harming your ROI when you decide to sell. Because of this, it’s essential to thoroughly research and review historical records on real estate appreciation, especially those of the community where the townhouse is located as well as other planned developments that have the potential of increasing its resale value. And don’t forget, being a strata-titled property, there’s always the possibility that owners of the other properties in that complex could sell their units below market prices, which could end up reducing the resale value.
  • Exorbitant HOA fees: Most townhouses typically have a homeowners’ association or HOA, which provides a variety of luxurious amenities. These include everything from libraries, clubhouses, playgrounds, tennis courts, hot tubs, saunas, community gyms, swimming pools, etc. and in some cases, HOAs are also responsible for maintaining the exterior of your townhouse and the lawn. The costs of which can run into hundreds of dollars each month. That said, it’s not uncommon for HOAs to ask homeowners as well as investors to chip in to help cover some of the major expenses such as upgrading security, repaving, etc. by charging them a quarterly fee in addition to their monthly contributions. What’s more, it’s not unheard of for HOAs to charge special fees to cover out-of-pocket expenses such as emergency repairs, legal fees, etc. 

Related: When Will It Be a Buyers’ Market?

Conclusion

With homes in prime neighborhoods going at a premium rate, townhouses provide a unique opportunity for investors to get a piece of the action in an ever-growing real estate market.

They are an attractive option for both investors and homeowners looking for a middle ground between condos and single-family homes. Townhomes give homeowners the feeling of owning a single-family home in a modernized prime center.

Like every other investment vehicle, townhouses have their own set of advantages and disadvantages, so it’s essential to do your research before buying one.

So, is buying a townhouse a good investment? Well, if you’re able to find the right townhouse in an area with incredible growth potential, then it can be a worthwhile investment.  Check out Zumbly today to find the perfect townhouse for you.

8 of the Best Places to Buy Rental Property in 2020

Buying rental property is a great way to get your foot in the door to becoming a property investor.

Rentals are great because they aren’t a huge amount of work and, in the right markets, the bring in loads of cash on a regular basis. That’s the key, though, the “right” markets. It can be difficult to figure out which cities to buy in because rental prices are always fluctuating.

Today, we’re going to discuss why buying a rental property is a good investment, what factors you need to consider when looking at a new city, and the 8 best rental markets in the country.

Choosing the right rental market can be the difference between a property making you a fortune or costing you just as much. Find and purchase homes that generate income with Zumbly — and maybe start with one of the cities below. Let this guide serve as your inspiration of the best places to buy rental property.

Why Buy Rental Property?

Rental property is a special type of property investment because it pays off both immediately and in the long-term. Although there’s a bit of extra work involved with the continual upkeep of the property while you’ve got tenants, the regular payments allow you to cover the mortgage payment and then some (in booming rental markets).

There are also a lot of tax deductions to consider as a landlord. You can write off the interest on your mortgage, insurance, the interest on your credit card (when used to make house-related purchases), property taxes, and maintenance costs. If you were flipping the house, for instance, these would all be extra costs.

It’s not all sunshine and roses with rental properties, though. If you’re not in the right market, they can end up being a huge money pit. That’s why it’s all-important to find the right places to buy a rental property.

What Factors Should You Consider?

The best places to buy rentals will have lots of affordable housing, positive wage growth, low unemployment rates, steady population growth, and an increase in average property value and rental yield. These cities have the best combination of these factors in the country.

Related: How to Look for a Fourplex for Sale

1. Orlando, FL

Alt Text: Orlando, Florida best places to buy rental property

Orlando is centered around a booming tourism industry. With beaches, malls, and theme parks, it’s become home to many retirees and a growing workforce for young people. The job growth, population growth, and rent growth all look ideal and it’s been called one of the best places in America to buy a second home.

2. Charlotte, NC

Alt Text: Charlotte, NC best places to buy rental property

Charlotte, according to CNBC, is in the top 5 cities in the country to start a business. As a business-heavy city, it’s seeing unprecedented job growth and population growth, as a result.

Home prices have risen somewhat in the last two years, making it slightly less appealing for some rental investors. However, the employment boom will keep pushing the population growth along, which is always good for rental numbers.

3. Tampa, FL

Alt Text: Tampa Florida best cities to buy rental property

If we head back to central Florida, we’ll see another hastily growing city in the greater-Tampa area. Tampa is home to a huge university and several major sports teams that make it both a tourist destination and a viable place to live.

What makes Tampa particularly attractive are the home appreciation rates and rising rental rates. It’s still cheap to buy, but it won’t be in a few years’ time and rent is going up as well.

4. Oklahoma City, OK

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OKC has grown a lot in the last decade. What makes this population growth exciting for property investors is that it’s mostly millennials.

It’s truly become one of the economic hubs of the south, as a prominent player in petroleum production, natural gas, scientific, technical, and administrative services. Millennials with good jobs mean great things for rental prices.

5. Houston, TX

Alt Text: Houston Texas, best places to buy rental property

It’s hard to believe that Houston could possibly still be one of the best places to buy rental properties; it is. There are currently 7 million people living there, but it’s still almost doubling the nation’s population growth rate.

There are 53 Fortune 1000 companies in Houston, fueling its economic growth. Despite the size, growth, and wealth, the average home price remains under the national average. These things are what makes Houston such a desirable spot for a rental property buyer.

6. Atlanta, GA

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Atlanta being the fifth-largest metro city in the United States alone should be a fact keeping it off the best rental market list. The housing market is more expensive than the national average and the industry has been firmly ingrained for a long, long time.

However, the numbers don’t lie. Atlanta has one of the lowest unemployment rates in the country and unprecedented population growth. Houses might be a bit more expensive, but the median rental rate is $1,800 per month, so you know people are ready and willing to pay high rental rates.

7. Cincinnati, OH

Alt Text: Cincinnati Ohio best cities to buy rental property

The Cincinnati-Dayton area is an interesting case because both cities are growing steadily. Situated across the river (and state line) from one another, both Cincinnati and Dayton’s housing prices are a whopping 25% below the national average.

Despite the low unemployment rates and decent job growth, the actual population growth remains pretty stagnant. However, the low housing costs and rising rental rates still make Cincinnati-Dayton a promising market to invest in.

8. Colorado Springs, CO

Alt Text: Colorado Springs CO best cities to buy rental property

Colorado Springs wouldn’t have dreamed of being on this list a decade ago. However, with rapidly dropping crime rates and a lot of younger people being priced out of Denver, it’s become one of the up and coming cities in middle America.

Although housing prices have already come up significantly in the last year, we’re expecting Colorado Springs to go the way of Fort Collins or Denver. People love the natural beauty in Colorado, so buy now and watch your rental investment grow in value over the next 10 years.

The Best Places to Buy Rental Property

The best places to buy rental property are often right under your nose. Take a look at the numbers and you’ll see all you need to know. Job growth leads to population growth, and population growth leads to higher rental demand. 

Find the places that are poised to boom rather than markets that have already boomed. It’s always better to buy cheap and have to wait for the rental market to grow than to buy high in a market that can’t grow much more.

To find out if your prospective rental investment is going to pay off, join Zumbly today.Related: How to Make an Offer on a House

The Top 7 Most Expensive Houses in the World in 2020

The average home in the U.S. is worth $257,445. But what about the expensive houses where the rich and famous live? 

There are many expensive homes all over the world. The lucky homeowners of these expensive homes had several million dollars to splurge on their home — and for good reason!

Whether you’re looking for a fancy property yourself, or are a first-time homeowner, Zumbly has the perfect algorithm to find your perfect fit. Here are the 10 most luxurious and expensive houses in the world.

1. Buckingham Palace

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It’s no surprise that a palace fit for a queen (literally) tops our list. At $2.9 billion, Buckingham Palace is the most expensive home in the world.

But Buckingham Palace is more of a historic landmark than a home.

In case you didn’t know, the palace is owned by the British Royal Family and has been the residence of the monarch since 1873. The palace has a breathtaking French neoclassical architectural design, which was favored by King George IV.

The Buckingham Palace we see today was designed by architect John Nash in 1826. There are three wings of the palace that surround a central courtyard.

Queen Elizabeth II currently lives here, though her spouse and children live elsewhere.

There’s a reason this palace comes with such a huge price tag. The palace is a whopping 828,000 square feet! It boasts 775 rooms, 78 bathrooms, 19 staterooms, and 92 offices. Even the garden is 40 acres in size.

You can find the palace in Westminster, London, and is the perfect photo op for London tourists.

2. Antilla

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If you’re wondering where India’s richest man lives, he resides at the second-most expensive house in the world.

Antilla is worth $1 billion and Mukesh Ambani calls this home. Ambani is the Chairman and Managing Director of Fortune Global 500 Company Reliance Industries Limited.

The building is located in Mumbai’s Cumballa Hill, in the middle of the city. It’s 400,00 square feet and a staggering 27 stories high. The building was designed by architecture firm Perkins & Will and hospitality design firm Hirsch Bender Associates.

The home has a very modern design and no two rooms look the same.

Antilla is more like a resort — the house has a 50-seat movie theater, three helipads, a health spa, a ballroom, a salon, an ice cream room, and a yoga studio. They even devote six stories to car storage and host a car service center within the home.

Mukesh Ambani lives in the house with his wife, Nita, and their three children. They also host a 600-person staff to ensure everything runs smoothly.

Related: When Will it Be a Buyers’ Market?

3. Villa Leopolda

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What’s better than owning a million-dollar home? Owning a million-dollar home that sits on France’s picturesque Cote d’Azur. This is the home that Lily Safra owns, who inherited the home from her widow, Lebanese-Brazilian banker Edmund Safra.

The mansion occupies 50 acres worth of land, has 11 bedrooms, 14 bathrooms, helipad, commercial greenhouse, an outdoor kitchen, and an incredible swimming pool. A home this luxurious also boasts a hefty price tag: $750 million.

The home has a bit of fame and history before it was owned by the Safras.

Villa Leopolda was originally owned by King Leopold II of Belgium. It has been redesigned since then; in 1920, American architect, Ogden Codman Jr., used inspiration from the period’s Belle Epoque trend to give the home its classic flair.

The home also has another major historic element — it was the setting for Alfred Hitchcock’s film To Catch a Thief.

4. Villa Les Cedres

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In fourth place, we have another French home purchased by King Leopold II.

This home is located in Saint-Jean-Cap-Ferrat and is worth $450 million. The home was built on 35 acres of gardens. The home has 14 bedrooms, a stable big enough to fit 50 horses, and a massive swimming pool.

There’s plenty of art and culture in this home. You’ll find décor staples such as gilded woodwork and crystal chandeliers as well as cultural pieces such as 19th-century oil paintings and a library that hosts 3,000 books.

5. Les Palais Bulles

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Les Palais Bulles translates to “bubble palace” in English, and you’ll understand why when you see this mansion.

The house is adorned with multiple round rooms that overlook the Mediterranean — looking more like multiple bubbles than an actual house.

Hungarian architect Antti Lovag designed this home during the later part of the 20th century. The home has many exquisite features, including numerous gardens, three swimming pools, and a 500-seat Amphitheatre.

Italian fashion designer Pierre Cardin currently owns the house — however, he only uses it as a vacation home. Les Palais Bulles is mainly used for parties and events.

6. The Odeon Tower Penthouse

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If you have $330 million to spare, you can buy a 35,000 square-foot apartment in Monaco’s most expensive building.

Odeon Tower Penthouse looks more like a lavish resort than a penthouse — the most defining feature is a 360-degree infinity pool with water slides. The penthouse is currently the most expensive apartment in the world.

Alexandre Giraldi designed the tower with Group Mazococo. The penthouse has a completely modern and futuristic look and there’s a private elevator leading to the penthouse.

Related: City vs Suburb: Where Should You Live?

7. Four Fairfield Pond

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Four Fairfield Pond is the most expensive home in New York City. It’s located at oceanside, facing the Atlantic Ocean. Its distinct French-manor style gives this mansion a sophisticated look, but its features are nothing short of glamorous.

The home is 63 acres in size and hosts 29 bedrooms, 39 bathrooms, a basketball court, a 91-foot dining room, squash courts, bowling alley, three swimming pools, a garage large enough to hold 100 cars, and tennis courts.

This home even has its own power plant.

And how much does this all cost? $248 million.

This is the home of Ira Renner, who owns the holding investment company Renno Group.

Dream of Living in These Expensive Houses

We all hope for the day that we can live in one of these expensive houses, right? If you start investing in property, you can earn passive income that will help grow your finances. Find your investment property today with Zumbly.

Long Term versus Short Term Rentals

A rental property can be a fantastic investment, but it can also be money going down the drain. This all depends on how it’s managed. Managing a property requires a lot of time and patience, both in terms of tenants and the investment itself. 

People looking to invest in a property typically think along the lines of long term rentals, but short term rentals are just as lucrative of an opportunity. These are two very different ways of investing in real estate. As short term rentals rise in popularity, they’re starting to give long term options (which have long had the monopoly) a run for their money. 

Investors want to know what the best option for them might be. With our expertise at Zumbly using home scoring to help investors find the right property, we’re here to help. Let’s start by going over some common terms.

Related: The Easy Guide to Leasing and Renting

What is a long term rental?

A long term rental is a property that can be lent out for approximately six months or longer.  The tenant signs a long term rental agreement with the landlord and must stay for the given period of time.

What is a short term rental?

This is just the opposite of a long term rental since it can be rented for less than six months. These are also referred to as vacation rentals because a stay in a short term rental could be as short as a week or even a few days.

Subletting/sublease

According to the legal definition, subletting is leasing or renting a property in part or whole to a subtenant, who then has the right to use the property. The subtenant has the right to use the property for rental purposes as long as they have the consent of the landlord. This is a form of short term rentals that usually works well for tenants who travel often or for long periods, but still want to retain their apartment back home. It allows them to make a supplemental income while having a physical presence in the house to deter burglars.

However, it’s important to note that there are many rules and regulations against subletting. For instance, subletting social housing is a criminal offense. It’s also illegal to sublet if one hasn’t obtained the consent of the landlord, even if the rental agreement allows subletting.

The sublease is very similar to subletting. In subleasing, the tenant who signed the original lease can lease the property to another tenant (the sublessee). The process is a bit more complicated, as the sublessee has to sign the original contract and pay the subleasing fees.

Check out some long term and short term rentals at Zumbly

Airbnb

airbnb apartment for rent

This is perhaps the most popular form of short term rentals at the moment. It’s usually easier to arrange than subletting and subleasing because the logistics are much simpler. Airbnb is not classified as subletting by law in some states in the US.  The concept of Airbnb borrows heavily from subletting, but with variations to minimize confusion and increase the legality.. 

For example, in some states, the homeowner must be available in the rental for the duration of the client’s stay. In some places, space can only be occupied for 120 days in the year, and one cannot have multiple property listings. For others, the property manager must rent out the property for more than 30 days. These kinds of Airbnb restrictions make it more of a home share than a sublet.

Related: Top Airbnb Host Tips

Benefits of Short Term Rentals

Flexibility

Short term rentals are more flexible compared to long term ones. The contract is usually for a few days to several weeks at most. All you need to opt out of the contract is to provide a notice to the landlord that complies with the terms and conditions of the agreement entered by both parties.

Most people consider this flexibility an advantage only for the tenant, but it works both ways in case the landlord is dealing with an unruly customer. They can cancel their booking even if it may result in a penalty. Greater flexibility can also mean pricing that can be adjusted depending on how popular a season is in a given area. For example, short term rentals can be priced higher in summer when there’s more demand due to an influx of tourists versus the winter season. 

Better maintenance

Short term rentals are cleaned frequently, so there’s ongoing maintenance as tenants move in and out. Issues that would typically take longer to identify are easier to spot since clients bring up the problems they encounter during their stay in the rental.

Personal use

The investor can decide to use the rental for their own personal use for a vacation with the family instead of spending money on a hotel room. If you live in your short term rental property, you can simply take it off the market and take a break if you desire. One can do this during off-peak season to avoid interfering with the regular rental season.

Better income potential

A short term rental in a popular vacation spot is guaranteed to bring in more income compared to a long term rental. This is because one can change the rates according to the season and facilities offered. If the tenant is on a short-term lease, the landlord can increase the rent depending on the market conditions. This concept is different from long term leases, where the landlord is stuck with the same rate in the contract even if the market rates are favorable for a rent increase.

Check out some homes on Zumbly to use as short term rental properties.

Disadvantages of short term leases

key going into a house

Uncertainty

Just like the property manager can terminate the lease with an unruly tenant, the tenant can also terminate their contract earlier.  This leaves the landlord with uncertainty when it comes to the flow of income. Also, short term rentals have peak and off-peak seasons when business is booming and when it’s slow. This can also affect the flow of income for the investor.

However, this is not a big problem if you’re using your short-term rental as a strategy to generate passive income. Long-term tenants can also terminate a lease early, and it’s much more difficult to find long-term guests. On the other hand, the short-term model requires less commitment and you are more likely to find replacement guests more quickly.

Higher maintenance costs

Short term rentals see a lot of traffic because different people are using it use your facilities regularly. Without proper maintenance, the property can gradually deteriorate. To maintain the property at peak conditions, the property manager must set aside more resources for maintenance and repair.

Related: What Happens When You Break a Lease

Benefits of long term rentals

architectural house with pool

Consistent income

Long term rentals utilize the traditional concept of renting, which is why they enjoy a steady stream of income. The tenant is on board for the long haul, and they have committed to the lease by payment and signing a lease contract. This means the investor doesn’t have to keep looking for new clients for the duration that the tenant is legally using the property. These rentals don’t suffer from seasonal variances that affect the flow of income.

Withstands market fluctuations

The real estate landscape is a dynamic process that is always fluctuating, so property prices can quickly dip. Long term rentals are less affected by the daily fluctuations since there is already a fixed rate by the property manager and the tenant. Any changes can be made at the end of the lease protecting the investor, similarly to the level of protection that the tenant gets.  

Appreciation in value

Long term rentals will appreciate in value with time even with the rent fluctuations. This means that the property is an asset that one can sell later on for huge profits. The investor can even use the rental as leverage to acquire more property.

But remember, short-term rental prices are easier to adjust. They can appreciate too, in the sense that property managers of short-term rental properties can raise prices as demand increases.

Check out some long term and short term rentals at Zumbly

Disadvantages of long term rentals

Long-vacant durations

Long term rentals can stay vacant for long periods before clients occupy them, meaning they are not bringing in any money. It’s challenging to find a suitable tenant who fits the profile that one needs for the rental. This can be a huge setback, and property managers may find themselves eventually losing money.

Less control

Once the place is rented, the investor has limited control over the property. Tenants can make some changes to fit their needs, and the property manager needs to be okay with the changes to make the tenant happy. 

Little flexibility

The property is rented for long periods, so both parties are stuck in their contracts. There is little room for flexibility unless a major problem arises. This also means the property manager can’t make significant changes to the property as long as the tenant is still on the premises without compromising the terms of their agreement.

Check out some vetted and scored homes at Zumbly for your next property.

Which one is right for you?

man staring at papers deciding on a plan

This question can only be answered depending on the investor’s needs. For investors looking for higher income and flexibility to change rates according to seasons, then the short term rental is a good investment fit. Long term rentals are beneficial to investors who don’t have a lot of time on their hands but want passive income and investment that appreciates regardless of their direct involvement with it. 

Conclusion

Owning property is an excellent strategy for generating passive income, whether you are acquiring a short term or long term rental. However, before investing, it’s crucial to have a clear goal of what you want to achieve with the property. With that in mind, whether or not you should use a long-term or short-term lease strategy depends on your goals. Consider them carefully and match them up against the factors we listed above to make your final decision.

Related: Renting Versus Buying: The Ultimate Guide