I believe buying a home has become the standard route for most people. Find a house you like, get a mortgage, and sign up for thirty years of payments. It truly is a great asset to have your house paid off after all.
But what if you can’t qualify for a mortgage ? That’s OK, it is argued by very successful people that renting is actually a better route because you can write it all off on taxes and you don’t have to worry about expenses of repairing anything that could go wrong or paying property taxes.
My personal belief is that as a young individual, you should look in to maybe a duplex where you can live in half and rent the other side out. Where I live in Hastings, MI, there is not much available to rent. It would be easy to find a renter to pay the majority of any mortgage payment due.
But what about the other side of the coin, You can qualify for a loan; is it worth it? Well that depends on multiple things. If you are moving in and plan to move right out, well, if you don’t buy at a good cost, and you get stuck with closing costs and seller fees, you could be hurting at the end.
However, if you buy at a nice price and the market value goes up, or you plan to live in that home for a long time, it is worth it.
If you can pay for a house cash, that is amazing, because then you can focus on saving and your payments that would be being made towards interest can GAIN interest.
Whether you are looking to rent or buy a home we can help. Contact Diamond Dazzle Cleaning if you need your new home cleaned. Or contact Christopher to list your home and get a free house wash included.
Barry County, MI
Gun Lake, MI
Grand Rapids, MI
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