January 14
SAVE MONEY BY BUYING A HOUSE
Stop to consider how much you are paying for rent each month. Is it possible that you could be spending this same amount of money on a mortgage on a home that you would then own instead of simply borrow? To save money it would really be to your benefit to look around and see if this is true. If it is indeed true, then you would be better off getting a mortgage. This is true even if the payments are simply “about the same.” In the end, it is still going to be a wiser financial decision for you to make payments on a mortgaged home instead of paying rent on a house or apartment.
Purchasing a house is something that often scares a lot of people especially when there is a bad economy or mortgage rates are really crazy. When considering if you can afford a house, include the estimated costs of paying for your own repairs. There are many tax benefits of owning your own home. Therefore, it would be a good idea for you to at least look into this and see how much you would be paying and the long term savings. It is possible that your mortgage could even cost you less than the rent that you are paying right now costs you.
