Home Loan Focus

At one point or another, someone has told you that by renting you are throwing your money away. That is true to a certain degree, but if buying a home is going to stretch you too thin, maybe savings should be your focus.

“I’m throwing my money away renting!”

When you decide to buy a home you are beginning to build equity, so in essence you are paying yourself. Well, when you send that check over to your landlord each month, you are paying for your residence as well as buying flexibility and freedom. By flexibility and freedom, I’m referring to the flexibility of being able to pick up and move relatively quickly and easily as well as being free of homeowners expenses which rapidly add up (just ask any homeowner, they’ll tell you). Owning a home isn’t all Christmas parties and swapping egg nog recipes anyway, it is hard work. Don’t jump in for the wrong reasons.

I read a great quote:

“In other words, home ownership is more like marriage; renting is more like living together. Make sure you’re ready to be wedded to a house before you propose to leave behind life as a renter.”

Source: MSN.com

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