There comes a time in life when everyone has to consider their living situation: Do you continue to rent, or do you take the plunge and buy a house? Or more precisely, when should you buy a house versus rent?
Most renters have heard the adage “You’re throwing money away when you rent.” True, renters will never recoup the money they pay their property owner every month. On the other hand, homeowners contribute to a valuable long-term investment every time they make a mortgage payment. While owning a home has many benefits, the decision to rent or own requires careful consideration of what it will cost.
Moving to a new home doesn’t always mean selling the old one. Homeowners could choose to keep it as a rental property. How to decide between selling a home vs. renting it out will be different for everyone. It boils down to three main topics: the homeowner’s goals, their financial situation, and whether or not they are “cut out” to be a landlord.
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It’s not news that buying a house is a big financial investment. But many first-time buyers wonder if buying a home is worth it. They wonder how long it will take before breaking even compared to renting. The St. Louis region actually has one of the shortest break-even times in the country.
Taking on a mortgage, especially as a first-time homebuyer, can be intimidating. Finding out that it can lower your credit score can be downright stressful. It’s a bit of a “Catch 22”: You need good credit to buy a house, but buying a house lowers your credit.
Winter is on its way and you know what that means... soon, you'll need to turn on your furnace. In fact, if you live in a colder climate, you might have already done so. Keeping your home warm while keeping your electric bill low is the goal for most homeowners. If it seems like your home is always chilly but your energy bill is high, you may be losing heat. Here are some of the most common places your home can lose heat:
Buying a house is one of the largest investments you'll ever make. It's crucial that you make wise decisions when purchasing a house to protect your investment. Here are five criteria to consider to ensure this:
After the real estate bubble burst in 2008, it seemed like foreclosed houses could be found in almost every neighborhood across the country. The number of foreclosed homes reached an all-time high in 2010 but has steadily decreased each year since. Nevertheless, as long as there have been mortgages, there have been people unable to pay them. Buyers can get a bargain buying a foreclosed home. But if they’re not cautious, they can get more than they bargained for.
When you’re planning to sell a home or buy a home—it’s a big deal. Sure, you can do it on your own, but it’s a complicated process and will take up a lot of your time. There are some things that are better left to the experts, and real estate is one of them.
Most people find it difficult to move out of an apartment and into a permanent home as quickly as they'd like, but some have particular urgency in their search. Whether it's the growth of the family, a toxic landlord or just the innate desire to break ties and own your own land, the months-long process just isn't fast enough for some folks.
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