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Renting Versus Buying: Pros and ConsDan The Roommate Man Realtors have benefited from a new variety of homebuyer in todays market: the young, single professional. It used to be that most single men and women resigned themselves to a somewhat transient, short-term renters lifestyle until Mr. or Ms. Right came along. Thats not the case anymore. With more and more people delaying marriage until their careers have assumed the direction they wish to take -- and due to the fact that a greater percentage of young people are financially independent and quite successful -- single professionals are changing from renters to buyers. At the same time, however, many renters are content to stay that way. Although buyers will talk your ears off about the advantages of permanency and ownership, diehard renters enjoy the freedom their lifestyles provide. From hassle-free maintenance to the record number of luxury amenities present in new properties, many renters are perfectly content to stay that way. However, the majority of people, whether single or married, will at some point ask themselves, "Am I ready to buy" Buying ones first home is a major step for anyone. Is there a "perfect" time in ones life to make that transition What are the advantages and disadvantages associated with renting and buying Each one has its pros and cons. The following list can help you consider the inherent hassles and positives of both. Renters ...
Buyers ...
This direct comparison clearly shows that neither buying nor renting is the "perfect" choice. Depending upon your lifestyle -- including such factors as the stability of your career, how often you travel for business and whether or not you plan to reside in your current hometown for a long period of time -- either choice has plenty of valid advantages. The multifamily housing market has exploded nationwide during the last decade, offering renters more advantages and more amenities and more flexibility in housing styles than ever before. And yet, the dream of homeownership is firmly implanted in the minds of most Americans. Its a worthwhile and significant achievement to be sure. Thanks to the success of the multifamily housing industry, however, renters no longer have to resign themselves to cookie-cutter accommodations until the dream of homeownership is within their reach -- that is, if they ever choose to reach for it.
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Remortgaging is the process of switching your mortgage to another lender that is offering a better deal than your current lender thereby saving money. A remortgage can also be used to raise additional finances by releasing equity in your property. How Much Rent is Too Much Rent You want what every apartment renter wants: the most comfortable surroundings you can get for the lowest possible monthly rent. Some of todays newly constructed apartment communities have taken luxury to an entirely new level. Some complexes have gas fireplaces, TV monitors by the front door, drive-through mail service, and office equipment for their tenants, among other creature comforts. Every renter has to consider the importance of amenities like these. Are they important enough to you to merit a rent increase of perhaps $200 more than the rent you pay now, at a modest yet affordable complex While some of us consider an apartment as just a place to hang ones hat, others place a premium on home surroundings. 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