Welcome to the UtahHomeSellingTeam.com Blog

2018-02-08 07:09:46
Rent or Buy?

Welcome to the tortured, modern American real estate soliloquy: to buy or not to buy? For millions of urban and suburban dwellers alike, that is the question. And it's a tough one: As home prices keep nudging higher, so do rents, which don't provide any equity. 

You've calculated your assets and earnings. You've nailed down your lifestyle costs to the penny. You've zeroed in on the area where you want to put down roots. And you're totally down with the whole

American Dream of home ownership, tired of flushing away buckets of cash each month with nothing to show for it. But can you afford this? Saving up for that down payment and monthly mortgage can be an intimidating feat, especially for all those first-time buyers burdened with student loan debt. 

That's why renters across the country look around and wonder: Does it makes more financial sense, at this point in time, to rent rather than buy a home?  

We learned that homeownership isn't always the best bet. It all depends on how much money you're making compared to your expenses, what your plans and financial goals are, and, most importantly, where you plan to buy.

'Homeownership is the opportunity to build wealth. It also helps people be more stable.'  'If there's a recession and you lose your job for a year, then people can take out a home equity loan and get through the hard times.' But the entry costs can be prohibitive.

Our calculations also don't factor in the costs of down payments or annual maintenance. And they don't include home appreciation, which makes the investment worth more as the years go by. Rule of thumb: You should plan on staying in your home for at least five to seven years, to build enough equity to cover sales costs.

source: Realtor.com

 
Blog Archive
2018-12-05 08:02:12
In 2019 Mortgage Payments to Jump 8.4%

2018-12-04 05:56:21
Financing for Manufactured Homes Coming

2018-12-03 07:16:21
Tale of Dual Markets

2018-12-01 08:01:47
Need to Sell Your Home this Winter?

2018-11-30 07:43:20
Buyers Pull Away From New-Home Market

2018-11-29 07:45:39
Mortgage Loan Limits to Rise in 2019

2018-11-28 07:42:53
Home Buyers and Sellers Should Watch in 2019

2018-11-27 07:10:44
Townhouse Construction is Expected to Increase

2018-11-26 07:55:12
Cities With Oldest, Youngest Homeowners

2018-11-24 08:24:08
Overall, December is the Best Time to Buy a Home

2018-11-23 07:29:39
Sluggish Home Sales came to an end in October

2018-11-23 06:43:53
Happy Thanksgiving

2018-11-20 09:19:16
How to Pet-Proof Your House for the Holiday Guests

2018-11-19 07:08:54
10 Great U.S. Ski Towns

2018-11-17 07:12:02
A Way to Keep Aging Parents Close to Home

2018-11-16 07:58:33
Huge Mistake to Take Your Home Off the Market for the Holidays

2018-11-15 07:55:35
Best Mortgage Advice I've Heard, Ever

2018-11-14 07:31:18
Tips to Help You Avoid a Rental Scam

2018-11-12 07:15:39
Buying a Home?

2018-11-10 06:03:39
Mortgage Rates Rise this Week

2018-11-09 07:36:01
Cheaper the Home

2018-11-08 05:56:20
Building Credit History From Scratch

2018-11-07 06:25:07
How to Get a Mortgage Without Freaking Out

2018-11-05 06:42:51
Home Prices Are Decelerating Not Falling

2018-11-03 08:09:28
First-time Homebuyers Transition from Renting

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.