In today's real estate market it's not surprising if people are a bit gun shy about buying or owning a home. Some questions that potential homeowners are considering:
What if I can't afford my mortgage in the future?
What if my home loses so much value that I eventually owe more than it's worth?
What if I have to move in a few years and can't sell my home?
If you've ever asked yourself these questions about home ownership, it could be time for you to look into renting versus buying a home. Believe it or not, sometimes it makes more sense to rent and apartment in Ridgeland, SC rather than own. Here are 3 tips to help you figure out which option—renting or buying—makes the most sense for you.
- Evaluate whether you have a steady income to support paying a mortgage.
- Make a timeline of how long you plan to stay put. If you anticipate staying in a home for only one or two years, it is unlikely that you will see a significant financial return on your investment.
- Crunch the numbers before making your decision. When buying a home, you have to take into consideration your mortgage payments as well as real estate taxes, insurance payments, and the maintenance costs. With renting a home, calculating month-to-month housing expenses is as easy as inquiring about the monthly rent and average utilities.
Bottom line: buying doesn't always make sense. For information on our apartment community in Ridgeland, SC contact Auston Chase Apartments.
Original article - Home Goes Strong