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Rent or own (a home)?

I'm renting a townhome I adore. The owner recently offered to let me buy it, if I'm interested. I have never owned a home by myself.
I'd love to know what members think the most important things to consider are when making a decision to buy a home.
Thanks in advance!

RoadGoddess 7 Oct 22
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60 comments (51 - 60)

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Today, a mortgage loan is one of the easiest tools to purchase your apartment. Interest rates on mortgages are gradually decreasing, and the requirements for customers allow more and more people to buy an apartment with a mortgage. The real estate market is first and foremost a market of big money and correspondingly big risks, which means that almost any careless action entails additional costs. Personally, my advice is to take out a Mortgage Store Ampthill loan and buy your apartment. It's much more profitable than renting all the time.

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I understand you very well. I already bought my own house a few years ago. But I remember this long process, and I would like to give you some advice. Be careful what company you deal with. I was 23 years old, and I moved to another country, but I already had another house in the mortgage. The company I turned to refused to contact me, so I had to do reverse mortgage refinancing with a company recommended by several acquaintances. Now I do not regret it because I have solved everything successfully. That is why I wish you much success because it is a long and complicated road.

When you buy an apartment, you should look for a good insurance company. Property insurance provides financial compensation to the owner or tenant of a building and its contents in the event of damage or theft and to a person who is not the owner or tenant if that person is injured on the property. Property insurance can include several homeowners insurance, renters insurance, flood, and earthquake insurance. I preferred the company [youi.com.au] because I didn't have to do a lot of paperwork; everything was fast and high quality, especially since they had already proven themselves when my friend's house had a breakdown.

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My advice is, if you can afford to buy a place then do it. Make your own house payments, not your landlord's. Nail stuff to the walls, do little home improvement projects & make it your own space. No more worries about being evicted or having your rent raised. It's the greatest feeling.

Carin Level 8 Nov 1, 2018
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Once you reach a certain age, buying doesn't make sense. What does a 40 year-old want with a 30-year mortgage? You'd be 70 by the time it was paid off. Renting makes more sense if you're older imo.

Orbit Level 7 Oct 30, 2018
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I currently own a nice home, but I live in a rental. I recently relocated due to a career opportunity. My house is on the market, but it seems like it's really slowed down recently. I have thought about buying another home in my new area, but my ultimate goal is to move to Colorado. So I'll be renting until that day comes because it sucks making a large mortgage payment along with paying rent. If I didn't make a decent wage I would be financially ruined.

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I do both. I rented out my country property and leased a city apartment. Highly recommend. Best of both lifestyles.

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I would first see what will and won't be taken care of via the association of the complex. I rent , hopefully one day ill own something. But ill see what happens

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Personally, I'm a happy renter. If the roof leaks or the furnace breaks it is not coming out of my pocket. And if I want to move I am not at the mercy of the housing market.

GwenC Level 7 Oct 22, 2018

@Gurahl nope. When my lease is up, I am not obligated to sublet or find a replacement tenant, I can just go

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Eh I've not bought a place yet..My life has been easy too transient.

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Which is better, renting or buying?-depends on the location. in houston that area pretty well depends on the oil industry. things have been improving there lately so owning makes sense.
but i think all of texas is pretty well dependent on oil. there have been several cycles of boom & bust.
a lot also depends how secure your job is & of course interest rates. people that bought after the last financial crash in 2008 have done very well. but many people that bought in the years leading up to the crash ended up upside down.they were stuck with large mortgage payments as the value of their houses decreased.
houses are an asset that should at least keep up with the rate of inflation. but there are cycles when they go above & below that rate.

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