Students will understand the difference between renting and owning a home and apply mathematical concepts to decide which option is best for their budget and other factors.
What to consider: Ask yourself if you feel ready for the level of commitment that owning a home entails. If being on the hook when the basement floods or the roof leaks terrifies you, it could be you're not quite there yet. On the other hand, if you know you want to put down more...
Consider Pros and Cons of Owning a Home Independence: When you own a home, you have control over cosmetic and functional details, from paint color to appliances to carpeting; when renting, you may be limited to the landlord’s choices and rules. Stability: As long as you make timely mortga...
Sure, owning a home comes with a lot of great perks. The freedom to do whatever you want with your place, tax breaks, no horrible landlord, and the feeling that you’ve achieved the American dream. All of these things still apply, but they now come with a massive price tag. First, ...
Owning a home means putting money into maintenance, renovations and repairs, on top of your monthly mortgage payment. Property taxes can go up and increase your monthly payments, or they can go down. A lot of things can change the value of your home in the short term, but you can potent...
On the other hand, if you've found a community where you'd like to put down roots, buying may be the better option. Owning a home offers more stability and potentially more financial benefits for homebuyers who plan to live in an area for more than just a few years. ...
Why Owning Makes Sense - You Get What You WantDESIGN YOUR HOME From the kitchen cabinet hardware to the bathroom sink, buying a house gives you the opportunity to personalize or renovate the house as you see fit. In contrast, landlords expect a rental unit to be kept the same as the ...
Those who espouse buying instead of renting often cite the ability to buildequity, the tax breaks, and the investment value of a home as solid reasons to buy. Owning a home also provides stability for housing costs in an inflationary environment. Rental prices have skyrocketed, increasing by ne...
You see, in most cases the IRS offers tax breaks on home sale proceeds if the property is your primary residence—but only if you’ve been living there for at least two consecutive years. But if you sell within the first two years of owning your home, you’ll have to pay a capital ...
Renting to own can be an appealing concept for people who are interested in owning property but have thus far been shut out of the traditional homebuying process. If you don't have a sizabledown payment, for instance, or your credit score is too low to qualify for a mortgage, renting a...