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Showing posts from November, 2007

More than Money: Considerations for Rent vs Buy

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While being a homeowner is the quintessential American dream, finding the right time to buy can be a challenge. Owning a home is likely the largest investment a person makes in their lifetime. Performing a "Rent vs Buy" analysis looks at not only the financial factors involved but the overall value of home ownership versus renting.

With so many factors going into a home purchase: finances, lifestyle, employment and personal goals, it's critical to run the necessary due diligence. Every potential homeowner should run a buying versus renting analysis to determine if the time to buy is now, or if renting is a more prudent decision. Here are the factors to consider when running a buy versus rent analysis:

Can You Afford It? A Cost Comparison

This question is a bit more complex that it might seem. Often, potential buyers stack the mortgage payment alongside the monthly rent and consider the comparison complete. But buyer beware: there are many overlooked costs associated with …