To Buy or Rent...That is the Question

This has been a long standing argument between people and I'm here to set the record straight.  Now the real question should be ............WHERE ARE YOU IN LIFE?  If you are moving to an area because of  work or other conditions, but don't plan to stick around for more than 5 years, then I would advice that you rent.  If you have retired or decided to settle down, then of course I would advice you to buy a home. 
Now,contrary to belief, owning a home that you live in, is NOT AN ASSET, it is a LIABILITY  and unless you are prepared to take on all the responsibilities that come with owning a home, you are liable to get yourself in deep doo doo. 

Now on the other end of the rainbow, there are many negatives, as well as positives with renting.  When renting a home, you lose the right of ownership...(DUHHH..I know that) is what you may be saying, but what that means is, for example, if the home is going or being foreclosed on, as the renter, know one is obligated to tell you and one day you may wake up with a note on your door.  Even if YOU have been paying every month on time, the owner or bank is not obligated in ANYWAY to let you know.  So before renting a home, check online for the foreclosure rate in the neighborhood, as well as have a Realtor write up an addendum stating that if that were to happen, the owner must tell you. 

So they both have there Pro's and Con's....When it comes to the long run...BUY...one comes to short run (5 years or less)...RENT..

Hope this helps and Renters...STAY AWARE.

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