 Do you have to have a down payment to buy a house? |
i dont think you have to have one, but in order to get a lower payment you would need one right?
Additional Details
hey mark! tenn. is where we are planning to buy i need to get up with ... |
|
 31 living with his parents? |
| rented out his property(900 euro a month) and sold his car to make more money.He earns 1200 euro a month after tax(less than 1000 pounds,1800 dollars after tax a month) and found it quite hard to ... |
|
 Can a landlord request rent in October when they have yet to fix the shower from August thus you have no activ? |
| I have been living in an apartment to which doesn't have a working shower!! Yet I still keep paying the rent! The landlord granted is a friend but she has been saying she was going to fix the ... |
|
 If you are a renter and a child drowns in pool you rent from, is the owner of the home responsible? |
| If you are a renter and a child drowns in pool you rent from, is the owner of the home responsible? No, this has not actually happened but a friend of mine owns a home that she'd like to rent ... |
|
 Tax returns vs. W-2s mortgage question...? |
When applying for a home loan, do you need your tax returns or are your W-2s and bank statements enough to document your income?
Additional Details
Hmmm... I was hoping not to see ... |
|
 Can I be sued for buyers remorse if i was unable to get financing? |
| If I am in contract to purchase a home and I was unsuccessful in getting the financing approved based on the contingency clause to buy their home without the sale of our home. I request a release ... |
|
 Can I legally kick my parents out of the house after they have lived in there for over 30 years? |
The house is in my name, given to me by my late grandfather. They're paying me rent with no written contract.
They aren't preparing for retirement, there will be a day when they ... |
|
 The driveway i rent is always blocked by the owner's family..what should i do? |
| i have my car and i rent an indoors driveway...almost everytime i take my car out or go back in someone is blocking the driveway..be it a neighboor or a family memeber and it is getting annoying..... |
|
 Any Landlords out there??????? |
| My tenants of roughly 6 months had told me that the outside porch carpeting had gotten extremely wet and moldy after the long winter. One of them told me that her father would replace it for me for ... |
|
 Can my landlord's wife break my lease? |
I am currently residing in a home on a 4-year-lease ending in 2010. The lease is in writing and on a contract.
My landlord and his wife own the home we are renting but have recently ... |
|
 What should my parents do? |
| ok here is the story my parents sold our house and we built a new one, brand new and they needed money from my aunt to finish it. now we got the money from her and now we have to pay her back, but my ... |
|
 My landlord won't return mine or my future landlords calls to verify my stay. What can i do legally? |
| I want to move into another apartment complex. I HAVE FULFILLED MY 1 YR LEASE AT MY CURRENT RESIDENCE. THE NEW COMPLEX WABN'T TO VERIFY THAT I LIVE THERE AND HAVE PAID MY RENT AND FURFILLED MY ... |
|
 I want to make an offer on a house I like thats been on the market for 8 months and no previous offers.? |
| Its listed for 306K now, as opposed to 334K 8 months ago. The woman has had no offers and wants to move. Since the market is a buyer's market, and she's had no offers, people tell me to ... |
|
 What's better, foreclose, or file bankruptcy...? |
| credit is bad already for missing pymt. but as homes going through foreclosure, should i file bankruptcy, or should i just let foreclosure happen and not worry about it...? what are the pros/cons of ... |
|
 Our landlord called us to go in and sign another lease cause they made a mistake on the rent do we have to? |
| We signed a lease at the beginning of the month and they have the rent at $75 less than what it should have been do we legally have to sign another lease that would make the rent go up?... |
|
 Should you tell a landlord about a broken window that you fixed? |
| it was our fault we broke it but we replaced it a day after we did it. we are new to renting.... |
|
 Are home prices ridiculous? |
| I don't understand why there are homes on the market that are ghetto shacks being sold for over $300,000. Does anyone else think that people are getting greedy over real estate and can you ... |
|
|  |
Salsa | What are the pros and cons of renting vs. owning? |
|
 |
 
darrin_carey
|
Good points so far. But....
What matters is what's important to you. If you don't want the responsibilities that go with ownership, rent and don't feel guilty about it.
Ownership costs a lot more than it looks like on the surface, just like renting doesn't mean the maintenance is always done.
Homeownership is often cited as the key to wealth. However, often that's a result of being the only investment ever made. If you're living there, you're "forced" to invest in your home (or get foreclosed) |
|
luckyzimmy
 |
Owning gives you a tax break if you finance, and itemize your taxes. Most people will not itemize unless they have mortgage interest. As owner, you get to pay the real estate taxes - and deduct them also. You also get the job of maintaining the property. The upside is that you can benefit from inflation of property values. That means you can build equity in a rising market by simply paying down your mortgage, and watching property values rise.
As a renter, you have no problem with maintenance, no risk of property depreciation, no property taxes, no tax break on your income taxes, no maintenance expense, and the ability to move on freely when your situation chaanges or you wish to change locations.
In summary, the answer for you is dependent on a lot of other considerations that may blend in with all the above. |
|
noe_medrano
|
Renting Pros:
Small deposit
No taxes
No loan process
No yard work
Something breaks, call maintenance and they will take care of it
Cheaper bills
Cons:
Never yours
Neighbors close by
Parking
Small
House:
Pros
Will be yours sooner or later
More room
Cons:
Loan approval
Down payment
Taxes
Higher bill payments
More importantly is buying a house that you can afford. If you are spending more than 30% of your net pay on house payments you cannot afford the house. If you can afford the house buy it, else rent. |
|
konaguy
|
Owning = building equity but being plagued with repairs and issues like insurance and property taxes which are pretty much out of control. Owning is really more expensive than you think.
Renting = p!ssing away money every month but not having a care in the world and being able to enjoy more of your time by not dealing with repairs, yard work, and the like. |
|
Jas
 |
Somedays I would rather be a renter, but we can't deal with too many restrictions.
When you rent you are paying for a home over your head, maintenance, taxes and insurance. You are also helping to build equity in a house which will not be yours. However, renting is cheaper than buying and much less of a headache. If you want to move you can do it much faster and easier then if you own your home. If the hot water tank or furnace goes and you own your home - geuss what you have to fork out the dough to fix it -- if you rent you simply call your landlord.
Renting is good for those who are not ready to commit to owning a home and all of the expenses that come with it.
Owning a home is good for those who are ready to commit to some blood, sweat and tears (on occasion). I honestly prefer owning because there is much more freedom and my neighbors are far away. |
|
kittywhite92630
 |
I think that renting versus owning depends on your situation and lifestyle. Most people that own homes they look at their home as a savings vehicle or investment. A renter could invest the money that would normally go to property taxes, repairs, insurance, routine maintenance and virtually end up fiscally the same as a homeowner with equity. If you don't want the bother of taxes, repairs, maintenance and you are willing to regularly invest money for your future then rent and invest the rest. It's a lifestyle choice to me. |
|
Murphycr
|
New administrative theory says that what really matters is use, not property.
Bye. |
|
kathyw
|
Buying is a great deal if you understand all the ins and outs of financing (getting a mortgage from the bank) and you buy exactly what you can afford.
Renting is good only if you are going to be in an area for a short time (under 5 years is a rule of thumb that I have read) or if your expertise in the stock market is so great that you can live in cheap small digs while you invest every penny in the market hoping to accumulate wealth fast. |
|
sammy
|
When the house market is going down, it had better to rent. In the long run, houses go up. Buy one when you can. |
|
?
|
Pros of renting, is no debt responsibilty, owing a $100,000 grand or more on a mortgage is a big responsibility. You can move easy when lease is up, do not have to worry about selling home later. No maintenance responsibilty.
Pros of owning a home, build equity in home, tax benefits. Stability for a family.
My job as a broker encourages home ownership for all, but not everyone can handle the monthly responsibilty of a mortgage. The last thing you or anyone would want is to purchase a home and then have trouble making the payments and keeping the home. |
|
ladysfeisty
 |
I was going to ask the same question, sorry I cannot help. One suggestion I do have is if you have your own house you no longer have to pay storage unit fees if your place is large enough :) |
|
Landlady R
|
And... Rents almost always go up, when you buy, it only goes up when your property taxes or insurance is increased.
In the first years of ownership, you do not earn much equity by paying down your loan, what increases your equity is appreciation and home improvements. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 3 minutes(s) ago
| | | |
12 | 39 minutes(s) ago
| | | |
12 | 47 minutes(s) ago
| | | |
12 | 52 minutes(s) ago
| | | |
12 | 2 hour(s) ago
| | | |
12 | 7 hour(s) ago
| | | |
12 | 8 hour(s) ago
| | | |
11 | 1 day(s) ago
| | | |
10 | 4 day(s) ago
| | | |
11 | 6 day(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
