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Buying vs Renting

Knowing your Rights (Renter | Buyer)

Advantages And Disadvantages of Renting

Advantages And Disadvantages of Owning your Home

There are many advantages of owing your own home. Before you and your family decide to make such a long term commitment. Save Money at Tax time Homeowners are rewarded by the federal government, and by many state governments. As a homeowner, you can deduct your mortgage interest and property tax obligations every April 15.

Building Home Equity

Home equity accounts for the portion of your home or property that you actually own, and as you make your mortgage payments every month, your equity continues to rise. You can consider it as a type of savings account, where your house continues to appreciate, and your loan amount continues to decline. Your equity is that difference between the property value and your outstanding loan amount.

Pride of Ownership

Pride of ownership is the number one reason why people yearn to own their home. It means you can paint the walls any color you desire, turn up the volume on your CD player, attach permanent fixtures and decorate your home according to your own taste. Home ownership gives you and your family a sense of stability and security. It's making an investment in your future.
* Work needs to be done by you--or paid for by you
* Generally a larger initial investment--the downpayment
* Equity may go up, down, or stay stagnant

Advantages of Renting

* There is generally less work in maintaining a home or apartment
* Smaller amount of "up-front" cash
* When the lease is up, you can just move

Disadvantages of Renting
* No matter what happens with the value of the home, you will never gain equity
* Limited--or no--ability to personalize your living quarters
* No tax advantage to renting. Your landlord gets any and all tax breaks that are available

- How to Improve your Credit Score
- Budgeting For Your Home Purchase
- How to Stick to your Budget
- Current Grant Programs
- Most Common Homebuyer Mistakes
- Ten Steps to Homeownership
- Real Estate Agent interview
- Different Types of Loans
- FHA Mortgage Limits
- Avoiding Foreclosure
- Calculators

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