Renting vs Owning

Is renting a bad thing? The true answer to this question is yes and no. Many persons may not be in a financial position right now to own a home. For some,  home ownership may not be a significant concern for them at this point in time, in cases like these, renting is not a bad thing and may actually be the better option for these people as they make the necessary preparation to own their home.

The bad thing about renting however, is that every month you are putting out a significant sum of money and in the long run, you will not have anything to show for it. This “rent money” could actually go towards a mortgage and at the end of it, you would be able to own your home.

Many persons believe that home ownership is not for them and they are of the opinion that they have to fit into a certain category to own their home. However, at First Citizens, we believe that it should be everyone’s right to own a home and this is why we make home ownership affordable to our customers.

We recommend that all potential home owners have a proper upfront assessment of their current situation, to determine what is the best decision for them. With this initial assessment, the customer will be able to determine the quantity of finances they will qualify for to make an investment in a home. Your job, salary, age, savings, assets, loans and other financial commitments as well as other monthly expenses are utilized in determining this figure. A customer can be assessed along with their spouse or family member when being pre approved.

Once this assessment is completed, you will receive an official pre approval certificate for the finances you can borrow to invest in your home.

If you would like to have this assessment done, you can call us at 62-first, apply online at or send us an email at

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