in our early 40s. We are both professional academics and are currently renting, and we will continue to rent until we actually retire—at which point we will move into one of our current investment properties. I am often struck by people’s obsession with owning a home. We owned a home ...
buying. In fact, several economists maintain that renting is probably the better option financially for many people. Even when buying pays off financially, renters retain the flexibility to make significant life changes, which homeowners often forfeit. Others would point out that, unlike stocks that...
Canadians are obsessed with owning a home. So are Americans. It's part of the dream of success and family and happiness. In Europe, some people who have success and families go a lifetime without owning. They rent. But here, if you don't own, you feel like you're missing out, or...
So should that spur renters to take the plunge into home ownership? Not necessarily. On average, first-time homebuyers could expect their monthly payments to top $2,400, according to the real estate listings firm. Renting is cheaper than buying in three-quarters of the country's 50 largest ...
Should you buy a home? Or is it better to keep renting? Here are all the pros and cons of each, plus key questions to ask.
Generally, renting is typically more affordable if you plan to stay somewhere for less than five years. This is because buying a home comes with many upfront costs. You may have to pay thousands of dollars in closing costs, including fees for...
investment of time. You’ll need to find a plumber, renovate a bedroom, and maintain a lawn. This requires extra money, which you can save for your retirement by renting. When the time comes to invest, buying a home might not be the best choice. You may end up regretting the ...
When buying a home, there are significantly higher upfront costs than renting a home. The obvious one is thedown payment, but that payment isn’t the only check you are bringing to the closing table. Don’t forget about all the additionalclosing costssuch as application fees, inspection fees...
This shows you the total of how much you spent for either buying or renting. It's everything you paid out less the value you built. For buying, that's all your expenses, which are offset by the equity you have in your home. As a renter who didn't invest, you don't have any ...
I think the decision ofrentingor buyinga house depends on your financial situation and long-term objectives.If you are financially healthy, you can buy a house. If you a in debts, it is better of you to rent a house and pay off your debts and never consider to buy one until your ...