getting into no matte which option you choose.
First off, take a closer look at what renting has to offer. The main benefit of this is that you will not have to pay any large sums of money out of your pocket up front. In other words, you do not have to pay for a down payment or closing costs. At most, you may have to pay a security deposit in order to protect the landlord. On the other side of things, when you rent a home or apartment you are not building any equity. You are basically paying somebody else for a space based on your lease. When you leave you leave. You do not have to sell anything, and you do not own any stake in the property.
On the other side of things, buying a home means that you are going to more than likely need money for a down payment and closing costs. There are some loan programs that may work with you as far as the down payment is concerned, but generally speaking, you are going to need some money in order to finalize the transaction. But of course, when you own you will be building equity in a piece of real estate. And if you are lucky enough to finally pay your home off, you will be in a position to live mortgage free. This is a day that a lot of people look forward to. As you can see, there is no way of saying if you should rent or own. You need to decide what benefits you the most, and then make your move. The decision should be yours, and after doing research into both options, you should be able to make up your mind.
For HDB Rental units in Singapore visit http://www.rentinsingapore.com/browse/all/all/all
About the Author: Kim Lee writes for Singapores Number 1 Rental Portal for HDB Flats
Source: www.isnare.com
Permanent Link: http://www.isnare.com/?aid=184394&ca=Real+Estate
First off, take a closer look at what renting has to offer. The main benefit of this is that you will not have to pay any large sums of money out of your pocket up front. In other words, you do not have to pay for a down payment or closing costs. At most, you may have to pay a security deposit in order to protect the landlord. On the other side of things, when you rent a home or apartment you are not building any equity. You are basically paying somebody else for a space based on your lease. When you leave you leave. You do not have to sell anything, and you do not own any stake in the property.
On the other side of things, buying a home means that you are going to more than likely need money for a down payment and closing costs. There are some loan programs that may work with you as far as the down payment is concerned, but generally speaking, you are going to need some money in order to finalize the transaction. But of course, when you own you will be building equity in a piece of real estate. And if you are lucky enough to finally pay your home off, you will be in a position to live mortgage free. This is a day that a lot of people look forward to. As you can see, there is no way of saying if you should rent or own. You need to decide what benefits you the most, and then make your move. The decision should be yours, and after doing research into both options, you should be able to make up your mind.
For HDB Rental units in Singapore visit http://www.rentinsingapore.com/browse/all/all/all
About the Author: Kim Lee writes for Singapores Number 1 Rental Portal for HDB Flats
Source: www.isnare.com
Permanent Link: http://www.isnare.com/?aid=184394&ca=Real+Estate
Comments