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What Is The Best Option For You? Renting or Buying?
Real estate market is full of investment options. People assume to get good returnsfrom property investment. Now if you have decided to put your money in real estateto be a home owner and simultaneously you are thinking about rent a home insteadof buying. This will also entirely depend on your financial situation and long-termplanning to narrow down the best option.
Few factors: Buying or Renting A House
There are few factors which need to consider if you are confused about
buying or renting a house. Erik Laine founder of Realty Connect has
extensive experience in realty business has shared some tips which you
can’t afford to miss when deciding to buy or rent a property.
First Point:
The first point which needs to consider is your house budget and
expenses. Before starting searching for a new house it is advisable to
check your expenses and your house budget. You need to know how
much you can manage to pay for to pay for your new place without
burden on the budget. The thumb rule says do not go for rent or
mortgage payments if you are unable to pay them on time.
Second Point:
The second factor is to know the
requirements while renting or buying a
house. Every landlord will check your
credit history and credit score for the
mortgage or the rent. They will check
whether you are eligible to pay bills
on time or not. Your credit card
balances will also reflect your
financial situation to them. Sometimesyou have to show your current bank
statements and W-2 forms which will
depict your present picture. Some
rental agencies may demand
professional and personal references
for a background check. They may
need contact number of the previous
landlord to check your history as a
tenant.
Third Point:
Next factor which comes in
your mind that when to
consider renting is a feasible
option. If you think like your
present job is not secure and
you are not sure about your job
situation then it is best to save
some money for the future
living. Renting is the best option
when you have restricted funds
for your living expenses. An
insecure job can’t give you the
confidence to pay the
mortgage for buying a newhome. Moreover, if you havean assignment for short time
frame in the city then renting is
a good option.
Purchasing A house is a Best option:
Now you can consider purchasing a house is a good option when you
have the ability to bear the additional cost of owning a house. Down
payment and closing cost should be paid in advance before you buy a
house. If you have unclear debt then it is advisable to clear the debt first
and then make the down payment for your house. You should be in a
sound financial situation before working out on renting or buying options
in detail.
Realty Connect Erik Laine:
Above Factors Shared By Realty Connect Erik Laine. If You want to know
more Contact.
If You want to more Information Visit Here:
http://realtyconnecteriklaine.blogspot.com/
http://realtyconnect.weebly.com/
https://www.linkedin.com/in/erik-laine-1321604
http://realtyconnect.tumblr.com/
https://about.me/erik.laine