October 14th, 2016 5:51 PM by Christel Silver
RENT VS. BUY
For some people, buying their home makes the most sense, and for others, renting is best. The decision to own versus rent is very much a lifestyle decision as it is an economic decision and is among the biggest financial decisions that many adults make. Determining how much money you can dedicate to the purchase is an important aspect of buying your new home.
Here some questions you need to ask yourself:
To determine whether to buy you first h to find out whether you can afford to buy! You also need to consider other factors, including the time you'll stay in your new home, the home's prospects for appreciation and the taxes, insurance and condo/HOA fees.
Buying a home is costing money (closing cost). If you believe you're going to be in a house less than three years, most experts suggest it's safer to stick with renting, unless you could afford to keep the house as an investment, as it takes about 2- 3 years to recover the cost of buying home.
Reasons to rent:
Reasons to buy
If you would like to see what is good for you: Realtor.com, Zillow.com, besides other websites offer calculators where you can find out for yourself, based on your personal information.