First Time Home Buyer

[Shannacore]

Originally Posted by moklianne [You must be logged in to view images. Log in or Register.]

Did you get a letter of approval yet from your bank? Not a pre-approval, they mean shit.

Yes

Originally Posted by eqravenprince [You must be logged in to view images. Log in or Register.]

Here is my basic summary of reasons to rent or own. Looking back I wish I would have rented until I was ready to move into my forever home. I would have considerably more money to my name had I rented.

Reasons to own:

- You get to do whatever you want to your property whenever you want
- You can have pets
- Build up equity, although I would argue that this is offset by all the maintenance cost
- Eventually own the place and do not have to make payments.

Reasons to rent:

- You have a lot more freedom to move
- Something goes wrong such as a roof leaking, you call the landlord, no money out of your pocket.

Sounds like there's more reasons to own than to rent! Minos repairs and maintenance (which will hopefully be little to none most of the time?), owning is going to be WAY cheaper for me than renting. On this particular house, my mortgage (including taxes + insurance) will be cheaper than what I am renting for. That's for an additional 1000 square feet. Balllllla.

[Raavak]

Originally Posted by Shannacore [You must be logged in to view images. Log in or Register.]

Minos repairs and maintenance (which will hopefully be little to none most of the time?), owning is going to be WAY cheaper for me than renting.

I bought my first house after renting the downstairs of a house for years, and seeing the landlord use his profits to go on a long vacation every year (well, he had like 3 rental houses). Anyway, any time I needed something fixed he would call a plumber, or whatever. He didn't do hardly anything himself. So... by owning I am just skipping the middle man and his profit taking. That's how I look at it.