Posts Tagged ‘Instead’
Renting A Home Instead Of Buying
With the wave of foreclosures past and future, renting in today’s economy can be a much better choice for you. The benefits of renting a home can far outweigh buying a home.
Here is a list of the top 5 reasons renting a home can be better than buying a home:
1. When renting a home, you have no maintenance or repair expenses. When you buy a house, all these costs are the responsibility of the buyer. Just because you can afford your monthly house payment, doesn’t mean you have anything leftover to fix any problems that occur. When you rent, these expenses are incurred by the landlord or rental company.
2. The ability to move if you had to. If you get transferred, or lose your job, your not locked in to a monthly mortgage payment. In today’s real estate market, trying to sell you home could prove very costly. Even if you have to break your lease, it’s much better than defaulting on your mortgage. If the neighborhood or schools start to go downhill, you can move to a better place easier. Renting gives great flexibility until you find a place you want to spend the rest of your life.
3. Mortgages have become increasingly harder to get. With the foreclosure mess, requirements for mortgages are much higher. Stellar credit and down payments of +10% are standard. Why not rent for a few years, and build up your nest egg, so when you do purchase, you will immediately have some equity in your investment.
4. Renting can cost you much less. With the greater availablilty of rental properties, rents have fallen. You will be able to rent a much higher end home then you would be able to if you purchased. You have much higher debt to income ratios when renting, as opposed to buying.
5. Home ownership is not for everyone. People have had it ingrained in them, that the American dream is home ownership. For many people, this should not be the case. Buying a home brings many new challenges and headaches, renting is much simpler.
Owning your own home has many benefits, but renting has just as many. You have to decide for yourself, based on your situation. For people with transient or unstable jobs, finanical concerns, or limited resources, renting is a good decision. Home ownership is a big decision, and should not be entered into lightly.
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Tags: Instead of Building a New House, Invest in a Spec Home
Many people dream of building a house; customizing each room and the particulars that go into each part of the house can be very exciting. However, what most people do not know is that you can not only do this in a spec home, but there are qualities about this sort of home that simply cannot happen with a home that is constructed on the worksite.
Now, we are not talking about a double wide trailer here. Spec homes are pre-fabricated homes that are designed piece by piece in a factory and are finally out together on-site. What is even better is that in the current housing and financial crisis, this sort of home has incredible positives that a piece of traditional new construction does not!
Spec Homes Give You Customization and Affordability
Spec homes give you some incredible choices that are simply not seen in a house built at a construction site. The reason being is that since these homes are produced in a factory and not on-site with typical building methods, each piece is designed through computer aided drafting. This allows you as the buyer to have much more flexibility when it comes to customizing your home. In fact, the architecture of many spec homes is featured in architectural magazines and digests that highlight the creativity and specifics of these incredible dwellings.
Next, another great reason to buy a spec home is because of the affordability factor that is involved with this purchase. Not only are spec homes more cost effective to purchase but they are also less expensive to maintain. The reason behind this is that there is an abundance of technology available in making spec homes “green” and energy efficient. Truth be told, the construction industry has very few options when building new construction and it is increasingly expensive to a new home builder to have their new house custom built with energy efficient principles. However, a spec home is manufactured with all of these principles in line and once the house is assembled, it is more likely to have cheaper energy bills that its counterpart. In fact, a typical heating bill could be over thirty dollars less per month! Just think of what that adds up to over years!
Get in Your New Spec Home Fast!
Finally, one of the best reasons to buy a spec home over building a new home is because the turnaround time on a spec home is much less than if you are building new construction. A spec home allows you to be in your new house within weeks as opposed to the months and months that can drag on when building in a traditional method. Also, since a spec home is produced in a factory and is only assembled on-site, you do not have to worry about weather factors slowing down the process to get you into your new house which is incredibly typical when you are waiting on construction to be finished.
Spec homes are the way of the future and will give you incredible variety when designing your home and fantastic happiness once you are in the home. Create some wonderful memories today and see if building a spec home is right for you!
