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Buying Over Renting a Home
The dilemma of buying over renting a home has been an issue for many people. The idea alone of buying a home can be extremely overwhelming and many don't know where to start. This is one of the largest investments a person can make in their life, and that scares us. However, if you look at studies of buying over renting, the choice seems clear. Obviously part of the "American Dream" is to own one's home. The number one advantage of owning your own home pertains to equity. We all want to build our individual equity throughout our lives'. For those who have decided to rent, your monthly rent payment is adding to your landlord’s equity. Simply put, "If you rent, you are throwing away your money". And in this economy we all want to get the most out of our money. When you own your own home, over time, you increase your equity in the home as you continue to pay your mortgage.
Another advantage of buying over renting a home is that you can lock in your monthly payments, keeping it fixed over time. And as we all know, the value of a home continues to appreciate throughout time. So you make an initial investment ... more
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