Your Mortgage
Mortgage vs. Rent
There has been quite a bit of discussion in recent years about the desirability of renting versus owning. In some cities such as New York there are many who still rent their homes with no desire to own.
If you currently rent and are looking to own a home, you may have already made up your mind that this is what you want to do. You may want to start a family or may see a home as a better financial ... Read More »
Building Equity
For decades, the best way to increase one's personal financial portfolio was to purchase a home. This was because homes typically gained value over the years so that it soon became worth more than the original purchase price. This home equity could be used as collateral for loans or was expected to be there when someone retired or wanted to move so that they could actually make a profit from selling their home.
During the housing bubble, that is, when housing ... Read More »
Expense of Home Ownership
With all the benefits of owning a home, there are of course some downsides. Homes require quite a bit of upkeep and maintenance. In an apartment or rental property you simply call the landlord and ask him or her to fix faulty appliances and other problems and of course that person is responsible for lawn care, snow removal, and so on. When you own a home, unless you're covered with a home owner's association agreement, you're responsible for all upkeep, ... Read More »
Owning A Home
Would you like to own a home? Most people prefer to have their own home than to rent an apartment or house. When you own your own home you can redecorate and remodel to your heart's content. You can also have pets if you so desire, and many people actually enjoy taking care of their lawns and landscaping. Homes also typically mean more space between you and your neighbors which means privacy on both ends. And of course homes are ... Read More »