Verses Renting A Home.
it comes to a home, you have two options: buy or rent. What is right
for one person may not be right for another, which is why it's
important to know which is the best option for your individual
are a number of reasons why someone may either choose or be forced to
rent, including sporadic or unpredictable income, a high
debt-to-income ratio, a bankruptcy or foreclosure within the last six
months, unpaid collection accounts or judgments, frequent relocating
for employment or the inability to save enough money for a required
down payment on the purchase of a home.
a homeowner, you will be responsible for any maintenance or repair
issues that arise. This is a big consideration when choosing whether
to rent or buy. When you rent, the property owner is responsible for
repairs and it may not always be obvious that these issues can be
To Know When It's Time To Buy
you have steady income with a good employment history, can provide a
down payment and are
current with all debts, it may be time to consider buying a home
instead of renting. In some cases, the cost of rent may even exceed
that of a typical loan payment.
deciding to buy, job stability is a big factor. If your job does not
require frequent relocation and you plan to live in the home for at
least a few years, you may want to consider making the purchase. If
you need to relocate after that, you may have enough equity from the
sale to use as a down payment on another home.
you can answer yes to the following questions, you may be ready for
home ownership. We can help you to find the perfect home
based on your individual needs.
you been steadily employed for at least six months, but preferably one
you plan to live in the home long enough to build equity?
you provide a down payment and still have enough money left to pay
for closing costs, utilities and home furnishings?
you current on all debts, including auto loans, credit cards, etc.?
addition to any current debts that you may have, can you afford a
monthly payment which will likely include property taxes and
you have the time to devote to shopping for a home and comparing
you checked your credit reports for inaccuracies and disputed
anything that needs correction with each of the three major credit
decision to buy or rent is a very personal one that can only be
determined after a careful evaluation of your situation.