Being a realtor and also a consumer who just purchased a home had me thinking...
As a realtor, the saying "cheaper to own than rent" would be in my favor, but I want my clients to take a good look at what they're doing before they purchase.
There's a much bigger picture that goes beyond the PMI, possible HOA and closing costs.
Speaking as a new home owner, here are some to consider.
Utilities, maintenance, upgrades, upkeep, furnishing, insurance, taxes, lawn equipment,exterminating, appliances, hardware, window coverings, repairs and renovations. These costs can add up quickly and are typically underestimated.
Also, buying where you can afford is only good when it's someplace you want to live.
And the illusion that you're fine spending 2 hours out of your day commuting, or your favorite place to eat is 30 min away, will likely last a week.
The decision to buy must begin with evaluating the TRUE cost of ownership and what you can afford. Owning a home IS awesome and the personalization factor and pride is worth it. Just be smart, and again look at the big picture.
Author:Jennifer Samuelson Phone: 918-361-1473 Dated: June 11th 2015 Views: 417 About Jennifer: ...
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