Every potential home buyer has to stop for at least a moment and consider this question. Today, we want to look at one of the many financial reasons to buy instead of rent: Read more
NEW YORK (CNNMoney) — For the last three years, my husband and I have been renting a house. But I would rather buy than throw my money away on rent. Still, even though we have about $120,000 in savings, great credit and no debt, my husband is reluctant. The job he’s had the past two years took 15 months to find, and it pays a lot less than his previous job. He’s afraid buying now isn’t a good idea because of the shaky economy. What do you think: Should we buy or continue renting? — Jean J.
First things first, I want to dispel the belief that you are throwing money away on rent.
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This is a self-serving notion real estate agents often spout that not only isn’t true, but isn’t a basis for making a rational decision when it comes to buying versus renting. Read more