Home ownership is a big part of the “American Dream”. But sometimes it might seem more convenient (or economical) to rent rather than buy. Here are some things to consider if you’re looking to buy a house instead of renting......
1. What is my monthly budget?
2. How long do I plan to stay in the home?
3. Do I want stability or flexibility?
4. Can I afford to be responsible for home repairs/maintenance?
5. What are my financial, career and family goals?
6. • Can I afford the monthly mortgage payments for a median-priced home in my area?
7. • Do I have enough money saved for a down payment and closing costs?
8. • Do I want to deal with the added cost and effort of maintaining a home?
9. • Are there affordable, safe housing options within a reasonable commuting distance to work?
10. • Do I want to live near good schools, recreation, shopping, dining or other amenities?
This video will go over the pros and cons of both options so that you can make an informed decision.
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