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Renting V Owning: Which One Is Best For You?


Whether to buy or rent a home is a decision very specific to individual circumstances and considerations. Generally, many younger people start independent living by renting – possibly due to moving around to establish their careers, and also due to hefty upfront costs ruling home ownership out until their salaries rise. Conversely, some older people may choose to sell their homes to release capital, in the process becoming renters again. As a result, according to this source, US home ownership fell in 2015 to its lowest level since 1967 at 63.4%, compared to the ownership boom of 2004 when home ownership was at 69.2%. The pros and cons So which is best for you – renting or buying? As said above, it will depend on the individual but the advantages and disadvantaged might help clarify things. Financial – many focus on the idea that you’re investing when buying as opposed to renting, but the overall costs of servicing a mortgage and maintaining a property need to be taken into account. A good starting point in calculating costs is this online housing calculator. How settled are you? – are you likely to move in the short term or does it look ...

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A Reverse Mortgage Can Help in 4 Surprising Ways

As reverse mortgages move into the mainstream, many people are catching on to the fact that they can be used as an option for older homeowners to tap into their home equity for extra cash flow. Taken as a lump sum for home repairs, or as a monthly installment to help pay for day-to-day living expenses, reverse mortgages can help some people to improve their retirement picture. But there are also some surprising ways borrowers are using reverse mortgages. From divorce to delaying Social Security benefits and protecting retirement investments, some borrowers are getting very creative with their reverse mortgage strategies. Here are four surprising ways a reverse mortgage may be able to improve your retirement picture. In a divorce. There are a couple of ways that a reverse mortgage can help in the case of a divorce between people of the qualifying reverse mortgage age of 62. First, the reverse mortgage can be used by one spouse to keep the home, if he or she could not otherwise afford to maintain the monthly payments as a single person. Second, a reverse mortgage for purchase could be used by one or both of the spouses to purchase a new home. ...

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Mortgages Needs to Vary According to Stages Of Life

Owning a home is one of the biggest things transitions people make during adulthood. Naturally, people have to work diligently to be able to afford the home they want. They need to save for years while paying down there debt and maintaining a decent credit score. People who have a clean financial history still end up getting rejected for a mortgage because they didn’t put enough work into building their credit. A person has to have a foundation of credit they could use to prove their responsible enough to become a homeowner. Before deciding on which home to purchase, work has to be done to determine what will happen later on in life as the investment matures. To read more about the benefits associated with downsizing your home, you should read the following article. Figuring out which home is yours is something that requires making a partnership with the right company. Flagship Financial Group is just that company. To read more about them, be sure to read the information provided through this link. This company is steeped in a tradition of helping customers get exactly what they want out of their financial aspirations. They work with everyone who comes to ...

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How to Build Your Dream Home on a Budget

Are you considering building your next house? While building your own home can help you achieve all the features that you really want, there are certainly many challenges associated with building your home. If you decide that you would prefer to look for a house or bungalow for sale, it is probably best to search on property listing sites like PropertyGuru Malaysia. However, if you decide that you would prefer to build your home instead, read these steps to successfully building your new house. Buy The Right Land for Your Property According to The Bungalow Company, it is crucial that you buy the right piece of land in the right neighborhood or area for you before you begin building your new home. You are not just buying the plot of land. You are also buying into the surrounding neighborhood and community. You need to be aware of the restaurants, schools and stores in your land’s surrounding area. For example, if you currently have children or plan on having children in the future, it is important to research the neighborhood’s school district and make sure that you are in close proximity to the town’s center, as well as your office and ...

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Inexpensive Kitchen Updates that Add Value

kitchen updates

Unfortunately, home renovations cost money. It may not seem like it when you watch HGTV and some home owners are able to get seemingly endless home upgrades and updates on what seems like a small budget, but that’s generally not reality. When your budget is limited, like most of ours tend to be for things like this, you need to plan carefully to get the biggest return on your investment, no matter if you are making updates to improve your quality of life or to raise the resale value of your home. So what’s the first room in your home you should look at if nearly every area needs updates of one kind or another? According to This Old House, it’s the kitchen. Below I have listed some inexpensive kitchen updates you should consider because they can add value to your home. Paint the Walls Nothing is more boring than white or beige walls. Take a trip to the hardware store, pick out a cheery paint color, or even two if you have an area that could use an accent, grab your supplies, and add some color to your life. A fresh coat of paint makes a huge difference to ...

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