When is it time to just rent or finally buy a house you can call your own?
Probably for most women, owning a house is one part security for her family. It is more likely that married women would prefer their husbands buying them their own house which she can fix and dress, bring up her family, rear her children, show the grand children around and show framed pictures of their children to her grand children. In short, it’s a house turned into a home….a more permanent home, that is.
Most people hate change though the irony of it is change is the only thing permanent in this world. There are things to consider, though, when you are pressed with a decision whether to rent or to buy your own house.
Consider the following:
Rent if:
- you can’t stay in one place for a long time; you get bored easily
- you don’t have enough money to buy even a small property
- your job takes you everywhere you rarely see your home
Buy if:
- you have the money
- you want your roots to hold
- seeing your neighbors (and probably ‘enemies’) the rest of your life is not a problem
People always think that having your own house is always better than just renting. It has always been a dream to have a house to call your own but when does renting become better than buying???
It is better to just rent when you are not planning to stay in the country for a long time. If you have plans of going elsewhere then buying a property may not be a good idea as you only have short term plans and it takes lot of decision making in buying or selling a property.
It is better to just rent when you do not have enough finances to support buying a house of your own. If buying a house would put you in dire financial strain then you might think twice before doing so.
It is better to just rent when you and your spouse are having marital problems. Having a property would only add to the complications if you do decide to divorce.
Buying a house is an enjoyable experience so it needs thorough planning and financial stability.
What are the things or factors you should consider in buying your dream house? Basically it should suit your needs as well as your family, here are some factors to consider before deciding to buy a home:
a.) Location-check for accessibility because location should be on top of your list
and should bring you convenience and comfort
b.) Condition of the house/condominium, etc.- check the age of the property if still in good condition even if it’s an old building/condominium already
c.) Price- ask yourself if it’s worth buying with your hard earned money.
d.) Check if you’re happy and contented with all the things that you saw and learned about the property.
As far as real estate buying is concerned, the initial price you will see is normally negotiable. Normally, the proper amount that a property seller would want depends on the mode of payment, cash or installment.
Cash Payments. This is perhaps the sweetest sound that a property seller would want to hear and that if possible, consummate the deal immediately. It is not everyday you will see buyers who will purchase property in cash so ask them to give their goodwill just to verify their sincere intentions.
Installments. For people who rely on loans or financial aid, the time element of settlement of the property amount is really the one in question. So if it takes time to fulfill, expect stiff decisions on the asking price although some would tend to bend over.
These days, buyers don’t even look at an online listing unless it has a virtual tour. A virtual tour allows a prospective buyer to get a 360-degree view of your home’s interior without having to leave their own homes or offices. Some virtual tours are interactive, meaning that a click of the mouse will allow the viewer to look at the walls, ceilings, floor. Other tours are 2-D flat-screen views that gives you a movie image that you can’t control.
You can make a virtual tour for your house by taking digital pictures of your home and hiring a professional to upload and assemble them for you. You can also hire a professional to take the photos and assemble the tour. And if you’re really tech-savvy, you can even buy your own software and make the virtual tour yourself.
If you want to live in your own home, consider renting instead of buying your own real estate. Renting is cheaper in the short term because when you acquire property outright, you would have to shell out cash or take a long-term loan.
Trends from the past several decades indicate that the housing market slumps every 10 to 15 years. Even when home prices rise from 4.5%, your income would still appreciate at 4% every year for a decade before you would save more by owning your house than renting it.
There are also a lot of expenses associated with owning a house, such as real estate taxes, transfer taxes, repairs, and the like but these do not build equity. Renting is more favorable not only because it is more inexpensive in the short term, but also because it saves you trouble, offers you flexibility and may be a stable decision when just starting out.
Green Buildings may be quite expensive yet people are willing to go the extra mile even with the economic crisis. Green seems to be the next slogan for firms who are considered to be the most polluting economic markets the world over. Some technologies have already jumped onto the green bandwagon in areas that used to be known as pollution centers. Green factories that generate their own solar power and use solar water heaters are on the rise as the technologies become cheaper and easier to use. (more…)
Well, that’s what the experts are saying in terms of existing homes and the prices they are getting with today’s low sales. They have bottomed out because they cannot get any lower due to the long standing recession that has eaten a lot of tax-payer dollars that the Federal Bank has released as mandated by the bailout package approved by President Obama. (more…)
Than what they have in the bank that is, which simply means they owe banks more than what their homes are worth which is one of the long running trends of today. The bailout money has started to come through to homeowners but even with the financial aid and tax cuts, it seems it still isn’t enough for these families to get by. Banks have all but stopped letting cash out for home buyers due to their high exposure to the housing crisis that has so crippled the US. (more…)
Moving is always a very big event in one’s life. Sadly, many people underestimate the needs associated with moving, and suffer a lot of problems when the big day comes. Lost and damaged things, bad movers, lots of extra charges, and so on.
To avoid this, it’s important that everyone give ample time to plan their move. You should make an inventory of all the things you want to bring with you – get rid of all the surplus by selling them in a garage sale to have some extra money. Make sure that all the things you need are packed well, especially the breakables and other sharp objects. Label you packages to know which is inside. Also, have a box that contains all the essentials you need when you get to your new home, so you don’t need to unpack everything all at once.
