Rent vs. Own: A Real Estate Reality Check for Navigating Booms, Busts, and Bad Advice

by Jane Hodges

Finally, a real estate reality check that cuts through all the biased rhetoric to answer the conundrum on everyone's mind: Should I buy now or keep renting? The magnitude of the housing crash and constantly conflicting reporting have left prospective buyers hungry for a well-researched reference guide. Enter Rent vs. Own, the first real estate advice book not to assume buying is always best. Expert finance and real estate reporter Jane Hodges explains how the housing market works and breaks down all the pros and cons of buying and renting. With dozens of success stories and cautionary tales from real-life renters and owners all over the country, this indispensable decision-making manual gives confused consumers the tools to make the best choice for their budget, market, emotional needs, and future.

Genres: Nonfiction, Business, Finance, Self Help, Reference, Economics

272 pages, Paperback

First published March 9, 2012

Reviews

[Kelly Tillman · Rating 5 out of 5]

First, if you want everyone else's opinion, you might want to either get the e-book edition or cover the book with a brown paper sack (I got seven own-a -home, one don't-own-rental property, zero rent). Second, read this book if you are thinking of buying or renting. I'm now enlightened about home ownership - its rewards and perils. And unless you've been living in a cave these past five years, the rules of purchasing a home have changed dramatically. Jane Hodges give the reader a fair, balance evaluation on housing in this new century. There's more than just a mortgage to concern. Houses, like cars, tend to break down and need repairs and if you haven't budget and save for it, it can be costly. Plus there's property taxes (I had to look up how property taxes are assess in the State of California, and that doesn't include bonds or other tax add-ons), home insurance (if you want earthquake insurance or flood insurance, that's extra), upkeep and of course, there's the BIG possibility that your home may not give you that huge financial return if and/or when you sell. And yet, since reading the book, I've been on Zillow.com numerous times. However, I now know the process (down payments, inspection, earnest money, escrow, closing cost, PMI), so I won't be going in blind IF I decide to buy. I highly recommend this book for any home buyer - first-time or umpteenth time - to read, especially now since buying a house in this country will never be the same for quite some time.

[Aja Marsh · Rating 4 out of 5]

4-4.5 -- great book, excellent resource, and really awesome for people new to buying and used to renting. helps you think through big questions, has nice graphics and nifty calculations, and doesn't say that one is better than the other. lots of anecdotes from all over the country, and is current enough to still be relevant. would consider buying this book to have on hand as a resource.

[Justin Dugger · Rating 3 out of 5]

Heavily anecdotal, and owing to the comparative theme, not very in depth on renting or owning.

[Akiro Sakuragi · Rating 4 out of 5]

This book is outdated as of now and has very surface-level information on the home buying process but is worth reading to ponder about the role of homeownership and individual's life, the Rent vs. Own debate and the hidden pitfalls of owning/selling a home. However, it would be a waste of time for someone with a general understanding of these issues though. That being said, this book accomplishes what it set out to do very well.

[Eryn · Rating 4 out of 5]

Lots of information and refreshing to see a balanced look at renting versus owning.

[Sara · Rating 5 out of 5]

Even though I'm not ready to buy a house right now (and probably won't be for a couple of years or more), this was an incredibly helpful tool in spelling out the pros and cons of renting and owning. Having known about as much as the average American about home ownership before I read this (meaning: all I knew was you needed to save some amount of a down payment and you'd end up paying plenty on a mortgage), I feel so much more educated about my choices, and hopefully will be better prepared if and when it comes time for my husband and me to buy a home.

[Jennifer Lyne · Rating 5 out of 5]

This an excellent, informative, and funny book by a veteran business journalist who also knows how to set a scene and tell a story. It's great reading for non-business types who want to understand the real estate market better, but it's also well-researched and specific. What I like about this book the most is the tone - it made me laugh out loud.

[Alohatiki · Rating 2 out of 5]

I live in a huge rent controlled apartment in an area that starter homes are $700k. Basically this book says renting shouldn't have a bad stigma but you should buy a home at some point. Would love too, can someone gift me $650k?

[Anbu Manoharan · Rating 4 out of 5]

This is definitely a beginner's guide and will help you greatly with the veteran house-hunter-speak. The book has a good set of questions to evaluate your agent and has helped me navigate clear from ugly pitfalls.

[Steven · Rating 4 out of 5]

Some useful information.

[Madonna Analla · Rating 4 out of 5]

Good arguments back and forth about owning vs renting. I'm still undecided so maybe I need to read it again haha.

[Ken · Rating 4 out of 5]

One of the best books I've read on real estate, along with the WSJ guide to real estate. A must read if you're looking to buy, or debating the buy v rent equation.

[Benjamin · Rating 5 out of 5]

Really useful perspective for potential first-time home-buyers like me.