Rent in an Pricey Area or Buy in an Affordable Area?

Buy an Affordable Home or Rent a Pricey Home

Rent or buy? It is a tough question. It is a major and expensive decision as an adult to make on whether you should rent your home or purchase it. There are benefits to both and drawbacks to both as well, but what is really the better situation? To make this problem even more complicated there is the decision of where to live. 

Preference and budget will help you to make the ultimate decision. It is good to review the pros and cons of each living situation to help you make the best decision for your personal life.

Is renting better than buying?

Some people may consider America as a nation full of renters because renting can often be the cheaper option in finding housing. This is true in many areas across the country, but in some, the cost of renting could be a higher monthly expense than that of a monthly mortgage payment. Even so, some renters are more willing to pay the additional cost to rent a home in the most sought-after of locations and take advantage of the perks of their surroundings.

Some of these perks can include access to luxury amenities, access to premier social network opportunities, easier access to major corporations, more convenient access to public transportation, more convenient access to entertainment nearby, no commitment, and the freedom to pick up and move at the end of a lease, not having to pay any property tax, and not being responsible for any maintenance fees.

Purchasing a home in a more budget-friendly area

It is cliché for a reason that homeownership is the American dream. Owning a home can be one of the best and smartest investments an American ever makes. But choosing where you live and finding a home that fits within your budget is very important.

For many, this can mean finding a home in a more budget-friendly location than where they may be able to rent. It is a good idea to know your budget extensively and carefully consider your daily personal needs. Buying a home is a very big decision, but it could be a very beneficial one even if you have to move a little further out from all the modern amenities that are at your fingertips in more expensive areas.

The benefits of purchasing a home in a budget-friendly area include the ability to keep your expenses low, the ability to pay off a mortgage much faster, the ability to have predictable monthly housing payments, the ability to earn equity in a long-term investment, and create wealth, the ability to take advantage of tax breaks for homeowners, the ability to tap into additional resources to renovate and remodel your home, taking advantage of equity as a property increases in value, and having more freedom to do whatever you wish to make a home all your own.

When deciding whether to purchase a home in a more budget-friendly area or rent a property in an expensive and highly sought-after one, it is always best to consider the rule of personal finance and quality of living. Only purchase items within your financial means and ask yourself what you want to see from your life in the future.

For a personalized list of homes for sale in Celina or Prosper real estate including all properties around the area, contact us today!

102 Properties
Page 1 of 7
$800,000
Neighborhood: Ridgeview Ranch Estates Ph 3
4
Beds
3
Baths
3,347
Sq.Ft.
1999
Year Built
1
Day on Site
20169174
MLS
Immaculate one owner home in the highly desired gated neighborhood of Ridgeview Ranch. Fantastic drive up with well appointed landscaping and gorgeous double iron doors welcoming you into the soaring...
$490,000
Neighborhood: Trails At Craig Ranch Ph 4 The
3
Beds
3F11/2
Baths
2,265
Sq.Ft.
2019
Year Built
1
Day on Site
20165452
MLS
Luxurious Lock-n-Leave townhome in the nationally acclaimed master planned Craig Ranch community! Light, bright open floor plan with 10 foot ceilings, nailed down Hardwood floors with powder bath on...
Open 10/2
540 Freestone Drive Allen, TX 75002
$354,900
Neighborhood: Glen Hollow Add
3
Beds
2
Baths
1,614
Sq.Ft.
1985
Year Built
1
Day on Site
20174488
MLS
This is a wonderful 3-bed, 2-bath home situated on a large corner lot! You'll love the large bonus room which is perfect for a home office, playroom, or extra 4th bedroom. The large fenced-in...
$749,900
Neighborhood: Timber Creek Ph 6
4
Beds
3
Baths
2,863
Sq.Ft.
2022
Year Built
1
Day on Site
20171655
MLS
Spectacular 4-bedroom, 3-bathroom house on an oversized, wooded lot across from a greenbelt in the Timber Creek community. The ultimate in privacy with no houses behind or directly across the street....
Open 10/1
817 Spruce Lane Princeton, TX 75407
$379,900
Neighborhood: Arcadia Farms Ph Ib
4
Beds
2
Baths
1,838
Sq.Ft.
2019
Year Built
1
Day on Site
20174472
MLS
This four bed, two bath floor plan opens with a traditional foyer that leads into the generous family room with a wall of windows looking out onto the extended patio. The large kitchen island...
$415,000
Neighborhood: Lakepointe
5
Beds
3
Baths
2,100
Sq.Ft.
2022
Year Built
1
Day on Site
20174717
MLS
MLS# 20174717 - Built by Bluehaven Homes - October completion!~Are you looking for a brand new home that's perfect for your family? Look no further than Bluehaven Home's new LakePointe subdivision in...
$475,000
Neighborhood: Lakepointe
5
Beds
3F11/2
Baths
2,977
Sq.Ft.
2022
Year Built
1
Day on Site
20174724
MLS
MLS# 20174724 - Built by Bluehaven Homes - November completion! ~ Are you looking for a brand new 1.5 story home that's perfect for your family? Look no further than Bluehaven Home's new LakePointe...
$329,000
Neighborhood: Parker Add
3
Beds
2
Baths
1,233
Sq.Ft.
2001
Year Built
1
Day on Site
20174331
MLS
A wonderful, charming house in the historic district of McKinney. The house is located within walking distance to downtown McKinney in a quiet neighborhood setting. Ready for new ownership after 20...
$535,000
Neighborhood: Light Farms Ph Three Cypress & Sage Neighborhoods
4
Beds
3
Baths
2,310
Sq.Ft.
2017
Year Built
1
Day on Site
20166280
MLS
Adorable home located in the highly sought after master planned community of Light Farms! Located on a cul-de-sac this immaculate one-story home has it all! Neutral color scheme throughly lends a...
$321,490
Neighborhood: Winchester Crossing
4
Beds
2
Baths
1,836
Sq.Ft.
2022
Year Built
1
Day on Site
20174748
MLS
New construction by D.R. Horton. Plan H40I Ingleside Winchester Crossing is located within the rapidly growing city of Princeton, in Collin County. With convenient access to Hwy 380, and great...
Open 10/2
2709 Redfield Drive Plano, TX 75025
$425,000
Neighborhood: Hunters Glen Nine
4
Beds
3
Baths
2,276
Sq.Ft.
1987
Year Built
1
Day on Site
20166730
MLS
Welcome to your home sweet home in the heart of Plano!! Hunter's Glen is a beautiful place to live, work, play & enjoy nature. Mature tree lined street with a gorgeous, welcoming elevation. Priced to...
$675,000
Neighborhood: Timber Creek Ph 2
4
Beds
4F11/2
Baths
2,898
Sq.Ft.
2016
Year Built
1
Day on Site
20171057
MLS
This impeccably maintained home in Timber Creek shows better than new with ample space for family gatherings. Spacious kitchen with quartz counters, crisp white cabinetry, gas cooktop, modern...
$545,000
Neighborhood: Parkside Ph 1
4
Beds
3
Baths
2,789
Sq.Ft.
2017
Year Built
1
Day on Site
20173034
MLS
Welcome to the beautiful community of Parkside in Celina, Texas with no MUD or PID tax! This is one of Highland Homes most popular floor plans! 2789 sq feet with 2 bedrooms, two bathrooms, study,...
Open 10/1
15788 Foliage Road Frisco, TX 75035
$900,000
Neighborhood: The Grove
4
Beds
3F11/2
Baths
3,238
Sq.Ft.
2021
Year Built
1
Day on Site
20173852
MLS
Stunning 2021 American Legend Home on .362 acres! Located in award-winning The Grove Frisco at the four corners where Frisco, Allen, McKinney and Plano meet! Massive yard, perfect for a Pool! Chef's...
Open 10/2
449 Metropolitan Drive Plano, TX 75023
$350,000
Neighborhood: Chase Oaks Village
3
Beds
2F11/2
Baths
1,579
Sq.Ft.
2011
Year Built
1
Day on Site
20168981
MLS
Absolutely stunning, like new 3 bed, 2.5 bath low maintenance townhouse in Plano with exemplary Plano public schools! Fresh paint throughout - Sept 2022, all new carpets throughout - Sept 2022. New...
Open 10/1
4514 Sycamore Drive Plano, TX 75024
$369,900
Neighborhood: Pasquinellis Hidden Creek Estates Ph 2
2
Beds
2F11/2
Baths
1,641
Sq.Ft.
2004
Year Built
1
Day on Site
20172460
MLS
Excellent opportunity to own this lovely townhome in a fantastic location! Close to the Shops at Legacy and feeding into (award-winning) Frisco ISD. This home has new carpet throughout & has been...
Information is deemed reliable, but is not guaranteed accurate by the MLS or NTREIS. The information being provided is for the consumer's personal, non-commercial use, and may not be reproduced, redistributed or used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than LivingWell Realty are marked with the NTREIS IDX logo and information about them includes the name of the listing brokerage.

NTREIS data last updated September 30, 2022.

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