Renting vs. Buying: Which One Makes More Sense in 2025?
Renting saves money today, but buying invests in tomorrow.– Monica Veiga
Making the choice between renting and buying a home is a big financial decision. It affects your budget, lifestyle, and long-term goals. While homeownership builds equity, renting provides flexibility. The right decision depends on your financial situation and future plans.
The Cost of Renting
Renting is straightforward. You pay a fixed monthly rent, and the landlord covers maintenance. There are no property taxes or home insurance costs. In 2025, the average rent for a two-bedroom in Coral Gables is $3,400 per month. This adds up to $40,800 per year.
The Cost of Buying a Home
Buying a home comes with added expenses. If you purchase a $500,000 home, you need a 20% down payment of $100,000. Your monthly mortgage at a 7% interest rate would be around $2,661. On top of that, you have $5,000 in property taxes and $7,000 in insurance costs per year. That brings your total annual homeownership cost to around $43,935.
Renting vs. Owning: The Monthly Breakdown
If you rent, your only cost is $3,400 per month. If you buy, your total monthly expense (including taxes and insurance) is $3,661. The difference is $261 per month, but with homeownership, you build equity over time.
No Down Payment? Renting Might Be Better
If you don’t have a down payment, buying becomes much harder. Without the $100,000 upfront, your loan amount increases. This raises your mortgage payment and adds private mortgage insurance (PMI). Your monthly costs could exceed $4,000, making renting the better financial choice.
When Buying Makes Sense
Buying is a smart choice if you plan to stay long-term. Home values in South Florida tend to increase. If the market appreciates, your home could be worth much more in 10 years. This means you build wealth while paying off your mortgage. Renting, on the other hand, provides no return on investment.
The Hidden Costs of Homeownership
Owning a home comes with unexpected costs. Repairs, maintenance, and rising insurance premiums can add up. Property taxes may also increase. Renting avoids these surprise expenses and provides financial predictability.
Flexibility vs. Stability
Renting gives you the freedom to move without selling a home. This is ideal if you expect career changes or personal transitions. Buying gives you stability and a place to call home. The decision comes down to your lifestyle and future plans.
What the Experts Say
Warren Buffett once said, “Price is what you pay. Value is what you get.” This applies to renting and buying. Renting may seem cheaper, but homeownership offers long-term value. It depends on whether you prioritize short-term savings or long-term investment.
If you have a down payment and plan to stay for years, buying makes sense. If you lack savings or need flexibility, renting is the better choice. Analyze your finances and future goals before making a decision.
Are you still unsure whether to rent or buy? Speak with a real estate expert to explore your options. Understanding your financial situation is key to making the right choice. Contact Monica Veiga at 305-336-3497 for renting or buying opportunities.
Do You Need to Supply a W-9 If You Are a Corporation?
The right paperwork today prevents major headaches tomorrow.
-Wilson Alvarez
As a technology consultant, I often deal with business paperwork that extends beyond IT services—one of those common requests at the beginning of every year is the W-9 form. Clients and vendors frequently ask for it, and over the years, I’ve researched its necessity. Since I run a Florida corporation that has been in business since 1991, I’ve encountered this question multiple times: Do corporations need to supply a W-9?
The answer is not always straightforward. Based on my experience, most corporations should provide a W-9 when requested, even though they may be exempt from certain IRS reporting requirements. However, always consult with your accounting professional for clarification, as tax laws and requirements can change.
What Is a W-9 Form?
A W-9 (Request for Taxpayer Identification Number and Certification) is an IRS document that businesses use to collect a vendor’s Taxpayer Identification Number (TIN), usually an Employer Identification Number (EIN) for corporations. The main purpose is to help companies track payments for tax reporting.
Businesses commonly ask for a W-9 to ensure they meet IRS compliance rules and determine if they need to issue a 1099 form at the end of the year.
Are Corporations Required to Provide a W-9?
Even though corporations are generally exempt from 1099-NEC reporting, I’ve learned that businesses still require a W-9 for record-keeping and verification purposes. From what I’ve seen, here’s why corporations should provide a W-9 when requested:
To Confirm Your Corporate Status
A business requesting a W-9 needs to verify that your company is a corporation and exempt from receiving a 1099-NEC. The form provides them with your EIN and business structure, confirming your tax classification.
To Avoid Backup Withholding
If you don’t provide a W-9, the company may have to withhold 24% of your payments under IRS backup withholding rules. This is something I’ve advised businesses to avoid by simply submitting the form.
To Maintain Proper IRS Records
Businesses must document their vendor payments properly, even if a 1099 isn’t required. A W-9 helps them prove they are following tax regulations.
When Is a Corporation Not Exempt?
While most corporations do not need to receive a 1099-NEC, there are exceptions. From my research, if your corporation provides legal or medical services, your client must issue a 1099-NEC. So, if you operate a law firm or a medical practice, be prepared to both provide a W-9 and receive a 1099 form.
How to Fill Out a W-9 as a Corporation
I’ve completed this form several times, and here’s what you need to fill in:
Line 1: Business name (as registered with the IRS)
Line 2: Trade name (if applicable)
Line 3: Check C Corporation or S Corporation
Line 5 & 6: Business address
Part I: Provide your EIN instead of a Social Security Number
Part II: Sign and date the form
What Happens If You Refuse to Provide a W-9?
Over the years, I’ve seen businesses hesitate to provide a W-9. However, if you refuse, the requesting company might be forced to withhold 24% of your payments for tax purposes. They may also delay payments while trying to determine your tax classification.
Benjamin Franklin once said, “An investment in knowledge pays the best interest.” This applies to business owners, too. Understanding tax forms like the W-9 ensures smooth financial transactions and prevents costly mistakes.
From my experience, if you are a corporation, you should supply a W-9 when requested. Even if you are exempt from 1099 reporting, providing the form helps avoid payment issues and unnecessary withholding. However, tax laws can be complex, so it’s always best to consult with your accountant for up-to-date guidance.
If you receive a W-9 request, don’t ignore it. Provide it to your client to avoid backup withholding and potential payment delays. However, if you are uncertain about your tax obligations, contact your accounting professional for further clarification. My thoughts are based on my experience, but always check with a qualified accountant to ensure compliance.
Scirocco MK1
Every Scirocco MK1 has a story; are you ready to add your chapter?
-Wilson Alvarez
The Volkswagen Scirocco MK1 is a car that made waves when it debuted in 1974. It was designed to replace the aging Volkswagen Karmann Ghia. With its sleek, modern look and sporty appeal, the Scirocco was an instant hit. The MK1 was styled by Italian designer Giorgetto Giugiaro, the mastermind behind many legendary cars. Its combination of form and function quickly turned heads in the automotive world.
The first year of the Scirocco came with two wipers on the windshield, a detail that changed in subsequent years to just one. Under the hood, it shared its engine with the Volkswagen Rabbit, offering reliability and ease of maintenance. The Scirocco MK1 introduced a 1.5-liter engine with carburetors initially, and fuel injection was added in later models to enhance performance. Its lightweight design and agile handling made it a joy to drive.
The Scirocco was available in several trims, including the S package. The S offered sportier upgrades like alloy wheels, tighter suspension, and additional styling cues. These features elevated the car from a reliable daily driver to a track-inspired machine. While it wasn’t the most powerful car of its era, it provided a driving experience that punched well above its weight.
Famous owners of the Scirocco MK1 include musician Eric Clapton, who appreciated its stylish and fun nature. Many enthusiasts have modified their Sciroccos with aftermarket parts, making them faster and more unique. From upgraded suspension systems to turbo kits, the possibilities are endless for those who love to tinker with cars.
Owning a Scirocco comes with its perks and challenges. The good? It’s a lightweight car with timeless styling and easy-to-find parts, thanks to its shared platform with the Rabbit. The bad? It’s known for electrical issues, which were common in older Volkswagens. The ugly? Rust can be a significant problem if the car hasn’t been well-maintained, especially in humid climates.
Maintenance costs for a Scirocco are generally moderate. Oil changes, brake replacements, and suspension work are relatively affordable. However, specific parts, like rare trim pieces or factory-original components, can be costly. A well-maintained Scirocco can serve as a reliable and fun car, but neglect can lead to pricey repairs.
The MK1 was a pioneer for its time, introducing fuel injection in 1976. It was a revolutionary step that improved performance and fuel efficiency. With production lasting until 1981, the Scirocco MK1 saw nearly 500,000 units roll off the assembly line. This makes it a collectible car, though not unattainably rare.
Carroll Shelby once said, “Performance is one of the best investments you can make.” The Scirocco embodies this philosophy. It offers more than just transportation—it delivers an experience that many modern cars fail to replicate. Owning a Scirocco isn’t just about driving; it’s about being part of a legacy.
The Scirocco MK1 is a gem for car enthusiasts who value style, heritage, and driving pleasure. It’s a car that balances fun and practicality, but it demands care and attention to shine.
Ready to own a piece of automotive history? Don’t wait—find a Volkswagen Scirocco MK1 and experience why it’s still celebrated today. Whether you’re restoring one or looking for a weekend cruiser, this car will not disappoint. Contact Wilson Alvarez at 305-386-6165 or visit Wilson Alvarez for tips on maintaining or restoring your Scirocco.
Porsche 968
Owning a 968 isn’t just about speed; it’s about balance, control, and precision—true Porsche values.
-Wilson Alvarez
The Porsche 968 is one of the most intriguing and underappreciated models in Porsche’s storied history. Produced between 1992 and 1995, it marked the end of Porsche’s front-engine, four-cylinder sports car era, serving as the spiritual successor to the 944. With a combination of refined engineering, sleek design, and exceptional performance, the 968 is often regarded as one of the most well-balanced Porsches ever made.
Facts and Figures: What Makes the 968 Special?
Production Numbers: Approximately 12,776 units were built, making it a relatively rare Porsche model.
Coupes: Around 8,234 units
Cabriolets: Around 4,242 units
Engine: The 968 features a 3.0-liter inline-four engine, producing 236 horsepower and 225 lb-ft of torque. It was the largest four-cylinder engine in a production car at the time.
Transmission: A 6-speed manual was standard, while a 4-speed Tiptronic automatic was optional.
VarioCam Technology: The 968 was the first Porsche to use VarioCam, a variable valve timing system, improving efficiency and power.
Performance: The 968 accelerated from 0-60 mph in 5.9 seconds (manual) and had a top speed of 156 mph.
Special Editions:
The 968 Club Sport (CS) was a lighter, track-focused version, revered for its sharp handling and driver engagement.
The 968 Turbo S, with only 14 units produced, delivered a staggering 305 horsepower, making it one of the rarest Porsches ever.
Repairs and Maintenance: 968 vs. 944
The 968, while sharing its roots with the 944, benefited from advancements in engineering and design, making it a more reliable car overall. However, maintenance costs are generally higher for the 968 due to its lower production numbers, leading to more expensive and harder-to-find parts. Here’s a breakdown:
Common Repairs:
Timing belt and chain replacements are critical, as the VarioCam system relies on precise timing.
Clutch replacements can be costly due to the transaxle design.
Electrical systems and window regulators are known weak points.
Costs Compared to 944:
While both models share similar platforms, the 968’s rarity and advanced features (e.g., VarioCam) make its parts slightly more expensive.
Owners report that routine maintenance for the 968 averages 10-20% higher than the 944.
Why Own a Porsche 968?
Exclusivity: With its limited production, the 968 stands out as a rare and collectible Porsche. Owning one is like having a piece of Porsche history.
Balance and Handling: Thanks to its 50/50 weight distribution, the 968 offers exceptional handling and driving dynamics, rivaling even some modern sports cars.
Timeless Design: Its sleek, modern styling has aged gracefully, blending 1980s sharpness with 1990s refinement.
Versatility: Whether you choose the coupe or cabriolet, the 968 is equally at home on winding back roads, the racetrack, or as a daily driver.
Value: While still more affordable than many other Porsche models, the 968 is steadily increasing in value, making it a smart investment for collectors.
Is the 968 a Favorable Porsche?
Absolutely! While the Porsche 911 often overshadows it, the 968 is celebrated among enthusiasts for its superb balance, bulletproof reliability, and unique place in Porsche history. The Club Sport version is particularly revered for its no-frills, driver-focused approach, making it one of the best-handling Porsches ever.