RENTING OR BUYING HOUSING
Published on Dec 13, 2015
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PRESENTATION OUTLINE
RENTING OR BUYING HOUSING
Photo by ξωαŋ ThΦt (slowly back...)
RENTING OR BUYING HOUSING
2 MAIN FACTORS TO CONSIDER: INCOME & LOCATION
Photo by Universal Pops (David)
LOCATION
THE LOCATION OF YOUR HOUSE CAN AFFECT YOUR JOB AND YOUR FAMILY'S LIFESTYLE
RENTING HOUSING
THIS IS A POPULAR CHOICE BUT HAS DISADVANTAGES AS WELL AS ADVANTAGES
Photo by My name's axel
ADVANTAGES TO RENTING
1. CONVENIENT - CAN MOVE WHEN LEASE IS UP
2. ECONOMICAL - NO SURPRISE EXPENSES
3. OWNER IS RESPONSIBLE FOR MAINTENANCE & REPAIRS
Photo by emilio labrador
DISADVANTAGES OF RENTING HOUSING
1. LEASE - RESPONSIBLE FOR EVERYTHING YOU SIGNED FOR
2. SECURITY DEPOSIT - AMOUNT PAID BEFORE MOVING IN TO COVER ANY DAMAGES TO PROPERTY
3. EVICTION - KICKED OUT IF FAIL TO HONOR THE TERMS OF THE LEASE
Photo by rentalrealities
RIGHTS & RESPONSIBILITIES AS A RENTER
1. RIGHT TO HOUSING THAT IS SAFE AND SECURE
2. CAN CONTACT GOVERNMENT OFFICIALS IF OWNER DOES NOT TAKE CARE OF PROPERTY
3. RESPONSIBLE FOR FOLLOWING ALL THE RULES AND REGULATIONS WRITTEN IN THE LEASE AGREEMENT
Photo by clamshack
ADVANTAGES OF BUYING HOUSING
1. EMOTIONAL SECURITY
2. LIVING SPACE
3. FINANCIAL REASONS
4. STAYING IN SAME LOCATION FOR LONG PERIOD OF TIME
5. TAX DEDUCTIONS
Photo by Doug Scortegagna
DISADVANTAGES OF BUYING HOUSING
1. NEED A LOAN
2. MOBILITY IS DIFFICULT - MUST SELL BEFORE YOU CAN MOVE
3. EXPENSIVE - PAY FOR ALL REPAIRS, MAINTENANCE, TAXES
4. HAVE TO PAY FOR LANDSCAPING, FURNITURE, DECORATING, IMPROVEMENTS
Photo by cindy47452
TWO TYPES OF MORTGAGES WHEN BUYING A HOME
1. FIXED RATE MORTGAGE - THIS MEANS YOUR MONTHLY PAYMENTS WILL REMAIN THE SAME FOR AS LONG AS YOU OWN THE HOME.
Photo by rentalrealities
2. ADJUSTABLE RATE MORTGAGE (ARM) - THIS MEANS YOUR PAYMENT MAY FLUCTUATE UP OR DOWN DEPENDING ON THE INTEREST RATE.
Photo by Dave Dugdale
WHATEVER YOU DECIDE RENTING OR BUYING IS A BIG DECISION THAT NEEDS THOUGHT AND PLANNING TO BE SUCCESSFUL
Photo by Michael D. Dunn
