purchasing home

kwrck4105 · Joined: 16 Nov 2006 Posts: 1 1.19 Dollars($)

i am interested in renting or purchasing a home. 3/2 is the required rooms. must be in daytona beach to holly hill area. can you help

Caron · Posted: Fri Nov 17, 2006 12:11 am Post subject: RE: renting or buying

Hi Guest,

Welcome to our forums.

You have mentioned that you require to rent or buy a home. I guess that you are still in confusion as to whether you will benefit from renting or buying. Well, if you rent a property, you will be paying for someone else's profit. But when you buy a property, it gives you long term financial security whether you buy with cash or mortgage.

If you purchase a property with mortgage, you are required to pay off the loan with interest and while you do so, you are able to build up sufficient equity in your property. You can then use your home as the collateral for any loan in times of financial emergency. Renting, however, does not give you this opportunity as it is an expense while buying and owning a home is an investment. However, it depends upon your financial situation as to whether you should buy or rent.

Let me give you a few tips that may help you whether you decide to buy or rent.

If you are on a transferable job, it's better to go for renting.
You need to enquire about the prices in the sales and rental markets (in the area where you wish to buy or rent) before you choose between renting and buying.
If you expect your income to get higher in a year or so, you can wait till you are able to buy comfortably.

As far as renting or buying a home is concerned, our community does not provide such services. But if you feel that you can afford to buy a home and you don't have sufficient cash, you can take a home loan. And, we can help you in this regard.

Our community has a group of ranked lenders providing people with different kinds of home loans. If you wish to get the service of any of our lenders, you can send us your request for Free Counseling.

Now that you have become our community member, it's also easy for you to send us any query. You can easily log in with your id and put forward your query in our forums.

Thanks,

Caron.

SHARLEE2004 · Posted: Fri Nov 17, 2006 12:08 pm Post subject: Purchase of home

Hi Guest,

The first step would getting prequalified for the purchase of your home and then finding a professional Realtor to help you find the property.

A Realtor will acess your wants/needs in a property and then search the MLS on listings available for purchase in your price range.

The Realtor will do the 'leg work' to find properties you like and you tour what he finds. It saves time and they know the areas and price ranges.

Good luck in you search!

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