Lynette
Bates |
When considering whether to rent or buy, the most important factor is the time that you intend
to spend in the home. In most cases you will find that buying a home is better. You will also find that the
selection of homes for sale is much greater than homes for rent. This means you can usually find a better
place to live if you buy vs. rent. In fact, it's often hard to compare apples to apples because with today's
interest rates, apartment rent is often more than house payments, and your quality of life is likely much
better in a house of your own.
If you are a first time home buyer with no credit history, there
are often programs available for first time home buyers. These programs make it easier for the
first time buyer to purchase a home.
If you are worried about your credit history, there are lenders who specialize in working with buyers
who have less than perfect credit.
Contact me today and let me help you realize the benefits of home ownership!
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Count on me to effectively
and efficiently handle your real estate transactions.
Lynette Bates
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This
calculator can help you determine what is best for you. The two value to compare are the Rental Expense and the
Adjusted Home Expense.
The rental expense is simply the total of all your rental payments for the duration of time
you specify.
The Adjusted Home Expense takes into account many factors including:
- Amount paid in payments
- Amount down
- Property taxes
- Insurance costs
- Tax advantages
- Mortgage PMI
- Loan costs
- Projected selling price
- Accumulated equity
- Real estate commissions
- Other selling costs
While individual situations will vary, the Adjusted Home Expense is a realistic picture of what it actually costs you to live in the home. If you live in the
home long enough, you will actually make money on the home. In this case the title of this field will change from
Adj Home Exp to Home Profit.
Once you understand the benefits of home ownership, don't waste time paying rent. Call
Lynette today to find the home you have always wanted.
On the calculator the field "Money for purchase" is not the down payment, it is
the total amount you will be putting towards the house.
(Some closing costs will be deducted from this amount.) Also some of the fields accept only integer values. If
you have a problem with the calculator accepting input, remove the decimal point in the problem field.
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How Well Have Home Values Appreciated?
How Much Are Property Taxes?
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