Posts in category 'Buying Vs Renting'

Some Highlights:

• Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space.
• Whether you rent or own, you have to cover someone's mortgage costs. You may as well be doing so to build your own wealth, rather than that of your landlord.
• Renting and owning both have up-front fees when you sign your lease or close, respectively. Think about putting that money to work for you! Let us know how The Chrissie Barrick Team can help 717-451-3850

It's no secret that the majority of the younger generations are renting for longer than their elder counterparts. With an abundance of student loan debt and soaring home prices, it's no wonder why most people are turning to renting. However, as rent prices steadily increase, is it better to bite the bullet and invest in a home? The decades-long debate about renting versus buying is far from over, but here are a few things to consider to help you make the best decision for you.

Life Situation:

Owning a home not only takes a financial commitment, but a level of maturity to recognize problems, plan for a variety of situations and maintain the household in good order. Being a homeowner is a commitment and if you travel often, work late most nights or don't have the extra savings to properly repair needed fixes, owning a home may no...

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There are some people who haven't purchased homes because they are uncomfortable taking on the obligation of a mortgage. However, everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord's.

As Entrepreneur Magazine, a premier source for small business explained in their article, "12 Practical Steps to Getting Rich":

"While renting on a temporary basis isn't terrible, you should most certainly own the roof over your head if you're serious about your finances. It won't make you rich overnight, but by renting, you're paying someone else's mortgage. In effect, you're making someone else rich."

With hom...

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