Is Homeownership Right for You?

[thomasromans]

When deciding where to live — and whether to rent or to buy — ask yourself these questions:

How long will you stay in one place? The longer you plan to remain put, the more sense it makes to buy a home. Buying allows you to recover costs and build equity.

How do costs compare? Find a good rent vs. buy calculator and crunch the numbers. Sometimes, renting is the clear smart choice. Sometimes, buying is. Most of the time, though, it's a judgment call.

How do you feel about homeownership? For some, owning a home is a part of the American Dream. For others, the chores and maintenance are a nightmare. If you hate the work that comes with owning a home, renting is probably a better option.

[tonymcfallen]

More accessible than bank loan officers: Just like your real estate agent, the mortgage broker works for you and doesn't get paid unless you close your loan. For this reason, mortgage brokers tend to be more accessible to buyers than bank employees. So, when you have questions along the way, it's generally easier to get the answers you're looking for from a broker.

[rebeccamckull]

An independent mortgage broker is someone who any specific mortgage brokering firm does not employ. They are free to find partners and take the business of clients to whichever lender can offer the most competitive option.