Hyo Hardell: Hey wish it was that simple but believe me it's not. It depends just like anything else on the going rate at the time. When property values go down you really loose money on your house and visa verso. Look at market value and where the property is located and what state it's located in. All these things come into play, Then there are all the pros and cons, for example: 1. Up keep, remember all the things that can break down and need to be repaired over the years. Electrical System, Plumbing System,Heating System,Air Conditioning System,not to mention all that back breaking yard work and snow removal if you are in a Northern state. (smile). Got those great shade trees, don't forget about those Autumn leaves. 2. Remember you can't call management or your real estate or your landlord, cause You Are the landlord and all of this is on you! 3. It's a lot easier to pick up and relocate if you don't have a house to worry about selling or renting out, which b! rings up another point, if you are ready to sell how long will that for sell sign stay out in front? 4. Property taxes usually go up, never down, and oh yes don't forget about the security devices you will need, cause if you are in a bad neighborhood you'll need lots of protection, and if you are in a up scale one you will need it even more. The first to keep folks "out" and the second to keep all your great stuff "in". 5. Neighbors. Pros: 1. You can paint,decorate add on to tear down restyle to your hearts content. 2. It's yours you have now (made it ) cause you are now a respected home owner (you and the bank I mean). 3. You have this wonderful blessing to leave to your wonderful kids. 4. You can have the garden of your dreams and all sorts of lawn parties and garage sells to help you pay for your wonderful mortgage! 5. Your neighbors. Now your noisy kids can whoop and holler all they want without some one complaining ! to the land lord....Show more
Beau Starcevic: Never. Enj! oy your life. Stop it with the figures, it gets boring and you'll only be tied down to something. Be a free spirit for once. Get in touch with yourself not you money all the time. It'll do you a lot of good.
Joeann Hoyt: 2
Riley Migl: It depends on the housing market & economy. Housing prices go up and down in value. Selling at the right time is the key.If you find that your rent (with utilities etc). is almost the same as a mortgage & that you can factor in extra expenses such as: maintenance, property tax, utilities, etc. than it is a good idea just to buy. Any home owner will always have to pay extra for maintenance & costs anyways. Just make sure it is all within your budget. So if mortgage cost comes close to your rent & maintenance fees for a home are within your budget than yes go for it. Better to put your money into your own place, than over to your landlord. Sell your place when the market and economy pick up(if it works that way for you). If you sell ! when it's a buyer's market, you may not get the amount of money back if housing prices are down. But buy when it's low. Make sure to not buy a money pit of a home that will cost you alot of maintenance and headaches though.There are also times when it's better to rent. It depends on your lifestyle and the economy. If you are hopping to one city to another for work, than renting would be great. If you are unsure about your job than maybe buying isn't the greatest.Good luck....Show more
Barton Slisz: It is not that easy. Buying and selling a home is expensive. 3% in fees to buy and about 10% to sell. So you have to have appreciation of at least 13% just to break even. Plus you have paid interest, real etate taxes, insurance and maintenance on that home.If you intend to stay there for 10 years and can afford a 15 year mortgage, then buying is likely smart idea. 30 year mortgage is basically renting because so little applies to principal during first 15 years....Show mo! re
Vickie Clampett: Buying is better than renting only if you don! 't over extend your self. If you pay 2000 in rent you don't have any additional responsibilities. If you pay a 2000 mortgage you still wil need to cough up Maintenance fees & Association fees. On a 200,000 house the first year you pay $10,932 in interest and your balance will be $197,074.56 . That's $2926 in return the first year. Check out the calculator @ www.bankrate.com
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