Posted by NewBuyer on January 2, 2010 | No Comments
One of our favorite resources that explains the pros and cons of rent-to-buy contracts. Many points are covered in this compact article, such as: how a rent-to-buy agreement works, pitfalls for the buyer, advantages for the seller and for whom a rent-to-buy contract works best.
From the resource: “(Rent-to-buy contracts) can be helpful for those sitting on the fence but shouldn’t be utilized by anyone who isn’t serious about eventually buying the home. Rent-to-buy should be made as part of a plan to own a home, otherwise it will end up costing more money in fees and above-market rent payments. Make sure the eventual purchase is driving the decision to enter a rent-to-buy.”
Source: ForSalebyOwner.com
Read More About Renting to Buy a Home at Newbuyer.com
Posted by NewBuyer on December 31, 2009 | No Comments
This tool will allow you to estimate the difference between renting a property and buying a home. Type in your monthly rental payment, purchase price of the home, anticipated down payment, mortgage interest rate and number of years you plan on keeping the home.
The result is a solid analysis including payment comparison, before tax savings, after tax savings, tax considerations, investing compared to appreciation on the home, and rent versus own savings. An example conclusion is “by buying your home versus renting you will have saved $636,437.38 over the next 30 years.”
Source: E-loan
Read More About Renting vs. Buying a Home at Newbuyer.com
Posted by NewBuyer on December 26, 2009 | No Comments
An insightful look at how to determine if falling real estate prices make it the time to buy or if you should continue to rent. This article recommends that you start by calculating how much home you can afford to buy.
From the resource: “Home values declined more than 16 percent from 2007 to 2008, according to the S&P Case-Shiller Home Price national index, which compared the third quarter of each year. And while that is upsetting news for homeowners, it could be very welcome news to those who were shut out of the American Dream because prices were too high.”
Source: abc NEWS
Read More About Renting vs. Buying a Home at Newbuyer.com
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