Rent or buy: the honest math

What’s on the list

1. 1

   Write down your rent today and how much it climbed over the last three years. That’s your real baseline, not the market’s.

2. 2

   Work out the full ownership payment: principal, interest, taxes, insurance, association dues. Compare that against your rent. Not the mortgage alone.

3. 3

   Add up all the cash it takes to buy — down payment, closing costs, reserve. If that wipes out your cushion, it isn’t time yet.

4. 4

   Decide how many years you’re staying. Buying has entry costs and exit costs, and the fewer the years, the heavier they land.

5. 5

   Count the maintenance your landlord covers today that lands on you tomorrow: A/C, appliances, roof.

6. 6

   Think about your job and your family three years from now. Flexibility has real value, and sometimes it just wins.

7. 7

   Go through your tax situation with an accountant. There are deductions owners get, and they depend entirely on your case.

8. 8

   If you’re buying to live in it and you qualify, Florida’s homestead exemption cuts up to $50,000 off the assessed value, and the deadline to apply is March 1.

   Florida Department of Revenue — Homestead exemption
9. 9

   While you’re still renting, know your rights and your obligations. Florida spells them out in Chapter 83, Part II of its statutes.

   Fla. Stat. Chapter 83, Part II — Residential tenancies
10. 10

    If you stay a renter, negotiate anyway: a longer term for a flat rent, or improvements in exchange for renewing.

11. 11

    Buying within twelve months? Start today on the credit and the savings. And don’t switch jobs anywhere near closing.

12. 12

    Don’t decide based on what the market did last year. Decide on your timeline, your cash and your stability — those are the parts you actually control.

Your situation doesn’t fit a checklist? Message Jordan or book 15 minutes.