What Is The Best Option For You? Renting or Buying?

Real estate market is full of investment options. People assume to get good returnsfrom property investment. Now if you have decided to put your money in real estateto be a home owner and simultaneously you are thinking about rent a home insteadof buying. This will also entirely depend on your financial situation and long-termplanning to narrow down the best option.

Few factors: Buying or Renting A House

There are few factors which need to consider if you are confused about

buying or renting a house. Erik Laine founder of Realty Connect has

extensive experience in realty business has shared some tips which you

can’t afford to miss when deciding to buy or rent a property.

First Point:

The first point which needs to consider is your house budget and

expenses. Before starting searching for a new house it is advisable to

check your expenses and your house budget. You need to know how

much you can manage to pay for to pay for your new place without

burden on the budget. The thumb rule says do not go for rent or

mortgage payments if you are unable to pay them on time.

Second Point:

The second factor is to know the

requirements while renting or buying a

house. Every landlord will check your

credit history and credit score for the

mortgage or the rent. They will check

whether you are eligible to pay bills

on time or not. Your credit card

balances will also reflect your

financial situation to them. Sometimesyou have to show your current bank

statements and W-2 forms which will

depict your present picture. Some

rental agencies may demand

professional and personal references

for a background check. They may

need contact number of the previous

landlord to check your history as a

tenant.

Third Point:

Next factor which comes in

your mind that when to

consider renting is a feasible

option. If you think like your

present job is not secure and

you are not sure about your job

situation then it is best to save

some money for the future

living. Renting is the best option

when you have restricted funds

for your living expenses. An

insecure job can’t give you the

confidence to pay the

mortgage for buying a newhome. Moreover, if you havean assignment for short time

frame in the city then renting is

a good option.

Purchasing A house is a Best option:

Now you can consider purchasing a house is a good option when you

have the ability to bear the additional cost of owning a house. Down

payment and closing cost should be paid in advance before you buy a

house. If you have unclear debt then it is advisable to clear the debt first

and then make the down payment for your house. You should be in a

sound financial situation before working out on renting or buying options

in detail.

Realty Connect Erik Laine:

Above Factors Shared By Realty Connect Erik Laine. If You want to know

more Contact.

If You want to more Information Visit Here:

http://realtyconnecteriklaine.blogspot.com/

http://realtyconnect.weebly.com/

https://www.linkedin.com/in/erik-laine-1321604

http://realtyconnect.tumblr.com/

https://about.me/erik.laine