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Renting vs. Home Ownership

If you are to move from your parents’ home, would you choose to rent or buy your new home? Some would prefer buying their own home before moving while others would suggest you rent. But it is a choice you and only you will have to make. Renting vs. home ownership is a huge leap for someone who is just starting up. But if you are financially capable and ready, there is no reason for you not to buy your own home. Unless, you need the flexibility that renting offers. As you know, you can easily terminate your rental contract if you need to move somewhere else again.

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When to rent and when to buy a home

Although it may seem that buying a home is very beneficial, it may actually prove to be against your best interest. On the other hand, renting may also be more expensive than buying a home. Overall though, both have advantages and you need to know them before you opt to buy or rent. Here are some circumstances where buying is better than renting and vice versa:

  • Buy when you have the resource for it. One of the best reasons you have to buy a home other than you actually need it is financial freedom. Buying a home is a responsibility and you surely don’t want to put your hard-earned money to nothing over time. Thus, make sure that you have the resource to buy your dream house either in cash or instalment.
  • Rent if you love the flexibility that renting offers. Apartments and condos are very flexible living spaces. You can almost easily terminate your contract if you need to move to another place or unit. This is one of the reasons why many people prefer renting to buying a home. In fact, this is one of the most valid reasons of renting. It gives you the freedom to move any time unless the contract forbids you. Even so, you can still move as long as you pay the necessary fees on this.
  • Buy if you want to invest on something tangible and resalable. Buying a home is definitely the biggest financial decision you have to make so ensure you have weigh all the pros and cons before actually going for it. Nevertheless, this is also the biggest investment you can have. And you have the chance to increase its value over time. A little makeover and improvement here and there is all it takes.
  • Rent if you don’t want to spend on huge maintenance costs that owned houses may present. Owning a house is truly a huge responsibility. You will take care of its maintenance and taxes. If you are ready for all these things then you are definitely good to go. But if you are not, you are probably good with renting vs. home ownership.

 

The above circumstances are intended to help your decision making on whether you are better off renting than owning a property as big as a home. For more information on Renting or Buying Options in your Area here is a great rent vs buy calculator.

Tips on Getting your Greenville SC Mortgages Approved

Whatever kinds of loan a person would get the process on qualifying and getting approved on the loan would always be a challenge for anyone. There are many changes in the housing market in the previous years and these changes have greatly affected the prices of homes nowadays. The fall in the prices of homes these days is what makes it an advantageous moment for home buyers to obtain a home. And learning ways on getting your Greenville mortgages approved is just one of the effective ways on how you can get a home now.

There are things that lenders would want to know about you as a borrower, and being able to meet their requirements would make it easy for them to give you the approval on the loan you are applying for. The following are things that lenders would consider looking at your background as a borrower:

  • Your lender would look into your income to debt ratio. It is given that lenders would also want to gain profits as they let people apply for a loan, and they can only do that if the borrower’s income are secured and they have enough financial source to pay for their loan. When your income is lower than your total amount of debt, there is a great chance that you may encounter problem with getting the approval of your lender. It is recommended that you decrease the total amount of your debt first by paying it off to get a higher chance of being approved on your loan.
  • Seek the help of a Mortgage Broker. If you want to clear things out about getting a mortgage and how you get an approval easily, then you must take your time getting the assistance of professional mortgage brokers in Greenville. This way, you are sure to find the best deals and properties in the area without the need to find it yourself. With the help of the brokers, they can also help you in getting a list of the Mortgage Rates Greenville in SC and compare which rates are suitable for you. Since these brokers already have their connection with property owners, there is a great chance that they can get the best and latest deals that are out in the housing market and offer it to you.
  • Make sure that you meet all of the requirements of the lender. There are some people who would forget about other papers that lenders would require and just go on with their application. People who do this often makes the process longer since they have to prepare for the papers after they have filled out the form for the loan. So, it is advisable for people to look at the requirements first before they fill out a form and submit it to a lender.

These are just some of the tips that people should know as they choose to apply for any Greenville SC mortgage. For people who want to undergo a convenient process on getting approved for a mortgage, getting the help of brokers from GreenvilleMortgagePlace.com is sure to make the process easier to take.

Why You Should Hire a Real Estate Agent for Home Selling

Looking for potential buyers for your home just all by yourself is not an easy task. Knowing the fact that there are also other people who sell their homes, you will always meet the competition.

But the issues in competition for home selling can be lessened if you are going have someone who is more knowledgeable in the home selling process. This someone is no other than the real estate agent.

Hiring a real estate for selling your home precisely holds a lot of advantages. That is why in this article, you are provided with reason why you should hire a real estate agent for home selling.

Why You Should Hire a Real Estate Agent for Home Selling

  1. Real estate agent has the capability to simplify the process for home selling and buying.

It is understood that aside from selling your home, you have other responsibilities too. That is why you do not have enough time to spend looking for potential buyers of your home. At some point, it might be that you do not have expertise too so as to handle the home selling. That is why you need the help of the real estate agent. He will be the one who will do your responsibility for selling of your home. He is the person who will look for potential buyers and negotiate with them. Without a real estate agent, the responsibility is on your shoulder whether you like it or not.

  1. Real estate agent gets the best price for your home.

As a home seller, you want your home to be sold as quickly as possible so that you can earn dollars earlier. For you to achieve it, you should hire real estate agent. But you have to take note the agent you will hire is the one who is experienced. It is because an experienced agent is already with the process for home selling and he can navigate home buyers in the market. On top of it is he can give your home the best price. You do not have to worry about the price that he will offer to buyers, because as mentioned, he is the one who will negotiate with the buyers about everything.

  1. Real estate agent handles all sorts of unfavourable paperwork.

In selling your home, you cannot escape from the possible huge amount of paperwork. But if you are going to hire an agent, you can offer your home in just a matter of talking with buyer over the phone and by simply putting your signature in every document to be presented to you by the agent. Agent is the person who will handle all sorts of paperwork that is why you do not to worry about it anymore.

  1. Real estate agent carries all the worries for details in your behalf.

If you are going to hire an agent for the home selling, he will fix all the details starting from the very basic up to the transferring of the title of home to the new owner of your home. Also, he is the one who set all the appointments that are necessary between you and the buyer. You can even entrust the attending of appointments to the agent. It means that even if you will not attend an appointment, the agent will keep you updated regarding the negotiation with the buyer.

 

These are the reasons why you should hire a real estate agent for home selling. So if you want the most convenient way for selling your home hire a real estate agent.  A great place to start your search for real estate: Zillow.com