Renting vs. Owning
Posted by Alfonso "Fonz" Salazar on
There are many people that believe that renting is easier than home ownership, or that owning a home will cost much more than renting. Â There are many things to look at when deciding what is best for your family. Â Here are some tips to help you make that decision:Â
Tip One: Look at the overall cost vs. benefit argument.
It is true that renting can make more financial sense in the short run, but the long-range view is much different. Â Over time your rent will rise, sometimes each year going up a little more. Â If you purchase a home with a fixed-rate mortgage, your monthly payment of principle and interest will stay the same. Â
Tip Two: Consider the power of leverage:
When you buy a home, you have the ability to magnify the purchase power of…
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