There is no one-size-fits-all solution when deciding whether to rent a home or buy a home. It is important to consult areal estate professionalabout what makes the most sense for you. They will help you reflect on all the different factors and ultimately make the right decision for you. ...
1. Are you truly in a financial position to buy? Why it matters: If buying overstretches your finances, you might be less able to cope with a financial emergency or save for other important goals like retirement. Plus, an inadequate down payment or subpar credit score might leave you at ...
Homebuyers should stop hating on renters. Whether you rent or buy a home in 2023 is a difficult question. Chris Browning, money expert, says renting is better.
Owning a property, particularly a freestanding home, can become isolating as you get older. Being part of a rental or retirement community, on the other hand, means more social contact and more hands on deck in case of an emergency. Renting property in retirement Renting property in retirement...
The street view picture across the street is the neighbor across the street – a home that isquitea bit different in dimension, style and size. Which would lead me to ask “who would buy this property?” Honestly there always a buyer for any homeat the right price, but it is clear th...
You can’t get a reverse mortgage on a rental property, but you could get a reverse mortgage on your own home and use that to purchase a rental property if you’re late to the retirement game and wish you had purchased one when you were younger. ...
Deciding to rent or buy a home comes with challenges. Weigh the pros and cons of renting vs. buying and other cost factors to determine what works best for you.
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 ...
It can be hard to work out which option ends up being better for you in the long run, which is why we’ve built the Rent vs. Buy Calculator for prospective homebuyers. This tool will give you an idea of how much money you can expect to save (or lose) when you purchase a home, ...
“Generally, if the home that is rented constantly has issues with vandalism, bad tenants, costly maintenance or excessive HOA or other hassles, it can be better to sell that home and buy a different property,” he says. Rent-to-own: A viable alternative ...