To Own or Not to Own…
Owning a home can be a gratifying feeling but renting can add flexibility to your lifestyle. Tune in to hear about the pros and cons of both and how it may ultimately come down to your lifestyle.
We’ve done both so learning from our mistakes and reasons for certain decisions could save you big time! CHA-CHING!
Tune In Now!
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- The process of closing on a home mortgage.
- A mortgage “forces savings” if you are really bad at saving.
- The flexibility with owning your own house.
- Avoiding second mortgages on your home.
- Turning your home into a rental property.
- The tax deductions from your mortgage.
- Owning can get you more per sq. ft.
- Finding the right neighborhoods for schools.
- Renting provides flexibility in location.
- The opportunity costs you have with your money in the ground when owning a home.
- Investments can pay your rent off forever vs. having a house paid off.
- The maintenance costs of a home vs. no maintenance with renting.
- The never-ending home improvements list.
- Keeping up with modern living in rentals.
- The time you’re losing with maintaining a house.
- Closing on a home can cost 10% of the home’s value.
- Not extending the mortgage payoff with a refinance.
- Common mortgage signing mistakes.
- Finding homeowners insurance.
- Putting 20% down for your house.
- Knowing when you should refinance to get a better interest rate.
- Restrictions with renting.
- Dealing with lease renewals.
- Landlords can visit at any point.
- Removing the anchor with the attachment a home brings to your life.
- The amount of money being thrown away in renting vs. owning is about the same and lifestyle factors play a role in your decision.
- 2FD 005: Thinking Before You Buy
- 2FD 004: Cut Back on Your Transportation Costs
- 2FD 033: Taking the Frugal Leap with Mrs. Frugalwoods
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