Should I buy or should I rent? That's a question I've heard numerous times that I knew it required an episode to cover it.
This topic was also suggested to me by my beautiful wife. So let this be proof that I listen to her.... sometimes. LOL!
I also need to give a huge shout-out to Mr. Hussain Abdullah (the CEO and owner of HA Homes).
I previously had him on the podcast. His vast knowledge on topics such as property investment and property management provided inspiration for this episode.
Please visit the HA Homes website... https://www.hahomesus.com/
Also visit them on social media....
Instagram: @hahomesus YouTube: https://www.youtube.com/hahomesus
In this episode we'll focus on answering five questions that provide some positive and negative aspects for both buying and renting.
Here's the questions...
1. What can you afford?
2. How long do you plan to stay in the home?
3. Do you want stability or flexibility?
4. Can you afford to be responsible for home repairs/maintenance?
5. What are your financial, career, and family goals?
I'll provide my opinion in the last part of the episode.
I need to stress that the purpose of this episode is not to tell you which option is better.
We're just providing information, and leaving it up to you to make that decision based on your individual circumstances.
If you have any questions and/or comments for me, send me an email [email protected]
You can also find me on social media...
Instagram @howardsblend
LinkedIn https://www.linkedin.com/in/howard-blend-a1018523
TikTok @howardsblend
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Resources: https://www.bankrate.com/real-estate/renting-vs-buying-a-home/
https://www.bankrate.com/glossary/p/pmi/
https://www.taxslayer.com/tax-reform/homeowners?rdr=/tax-reform/mortgage
https://blog.credit.com/2018/10/5-things-to-know-about-home-equity-loans-76738/
https://www.fidelity.com/viewpoints/personal-finance/rent-vs-buy
https://www.fidelity.com/viewpoints/personal-finance/before-buying-house
https://www.nerdwallet.com/mortgages/mortgage-pre-approval
https://www.realtor.com/advice/buy/understand-the-basics-of-escrow/
Here's the amortization calculator mentioned in the episode.. https://www.bankrate.com/calculators/mortgages/amortization-calculator.aspx
For those of you that love math, here's the formula to calculate your monthly mortgage payments....
M= P[r(1+r)^n/((1+r)^n)-1)]
M-monthly mortgage payment r-annual interest rate n-number of payments per year P-Principal (amount borrowed) t-number of years
