Should You Rent or Buy?
Most people don’t think that when they’re renting a house or even an apartment that they could easily be paying a mortgage which can be cheaper than paying rent. If you plan on staying in a home or neighborhood long-term, you should consider buying instead of renting because you will be able to breakeven. The term “long-term” varies from different areas around the country and even different neighborhoods in different cities. When considering breaking even, you are essentially recouping the costs of buying a house which includes upfront payments, closing costs, mortgage payments, insurance, taxes, utilities and maintenance costs. Choosing the right neighborhood is the most critical part of the home shopping process, you want to consider the crime rate, what schools are around if you have children or plan to have children, prices of homes around your home, etc.
Another important aspect of knowing what zip code you plan…
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