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to buy or to rent
March 18, 2006
6:20 pm
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jewel
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September 27, 2010
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Is there anyone that could help me weigh out the different sides of buying and renting? I have been renting for so long and feel like I am wasting my money. However, when you own a home, you have property taxes and if something in your house breaks, it's on you to fix it. I want to know the pros and cons of both and am having a hard time. I mean, what if you move somewhere and think your going to like it only to find a couple months later that you no longer want to live there. Any responses would be greatly appreciated.

Jewel

March 18, 2006
6:27 pm
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sdesigns
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Hi Jewel:

5 1/2 years ago I bought for the first time. My condo has tripled in value, so there is tremendous financial gain by buying. You gain an asset, rather than just a place to live month to month.

I also have made improvements, according to my taste, which is very gratifying.

To be sure you want to live in a certain place or area, visit it frequently. I say this because I didn't do that and found a certain time of day to be unbearably noisy. But this was due to a certain couple that lived here. They have both died, so the problem resolved itself.

One HUGE mistake I made, which I write about constantly on these boards, was to get involved with someone who lives here. It didn't turn out well, and I wish I could have moved rather than owned the place and had to stay. An apt would have given me that option.

I would just caution that you buy only what you can afford, as expenses do come up. Maybe save as much as you can for a down payment, to try to lower the amount you have to finance. Its no fun to be a slave to a house payment.

SD

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