“I often get asked whether it’s better to rent or own property later in life,” says Tony Clarke, MD of theRawsonProperty Group. “In reality, there are pros and cons to both options, and no easy answer that fits all situations. My best advice to people nearing retirement age is to...
You will not be able to build equity in a rental. The pros and cons of buying a home Like with renting a home, buying a home comes with its own set of pros and cons. Let’s break them down to better understand this option.
It saves you cost on fares or fuel (if you decide to own a car). Plan for monthly savings goals and retirement contributions –Make sure you include the cost of your savings in a retirement account such as a 401k or a Roth IRA. It is a wise decision to plan for when you eventually...
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 ...
Rent-to-own contracts are alternatives to traditional home loans. At the outset, such arrangements are much like traditional leases landlords and tenants might sign. However, the contract also gives the renter exclusive rights to purchase the home at a specified point in the future. A portion of...
A rent-to-own arrangement can be a good option for homeowners who are uncertain about whether to sell or rent. Here are some of its benefits: It lets you retain property ownership while exploring the market. You can evaluate your situation more thoroughly without committing to a sale just ye...
“As a B2C company, you need to be where the customers are and you need to satisfy their needs wherever they are and in whatever way they want to enjoy your brand,” said Abtan. “I don’t believe [luxury brands] need to develop their own renting system – I don’t believe it ...
Sizing up DOWNSIZING; Financial and lifestyle issues figure in the decision to rent or own as people nearing retirement think about simplifying responsibilities.(HOMES)Peterson, Susan E
What Is Rent-to-Own? Rent-to-own is essentially a program in which a portion of your monthly rental payments goes toward the eventual purchase of the home. This is especially helpful for people who have trouble saving for a down payment, which can be as much as 20 percent of the home...
★Utilities and Internet FeesIf you rent the whole house, you need to set up your own utilities and Internet accounts and pay for them by yourself; if you rent a room, these fees are generally included in the rent, and the landlord pays for them within the stated limit.★Air Conditioner...