Stale Green Light

Here are a few ideas on making your dollar go a little further.

1. Use coupons at the grocery store.  You’ll be surprised how fast they ad up.

2. Use internet coupon codes when buying clothes.

3. Drive smoothly and use cruise control when driving longer distances.

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The decision to purchase a home, is one of the biggest choices you’ll make in your lifetime. The choice to buy, over renting a home, has its advantages and disadvantages.

As far as the Advantages, you get a nice tax write-off, you can fix and upgrade your home whenever you want, you can build equity as the market increases in value, and you can control your payment options. Read the rest of this entry »

Trying to decide between renting and buying? Here are some renting pros and cons:

Pros:

- Not responsible for repair and upkeep. When the toilet breaks, the ceiling falls in, the walls need a new coat of paint, or the sink is leaking…you don’t have to deal with fixing it or calling to hire personal to come fix the problem, not to mention paying for costly repairs.

-Don’t have to worry about what property values or interest rates. You don’t have to worry about refinancing your loan for a lower interest rate, or that your neighbor is rapidly destroying their previously lush lawn because a lack of water and mowing.

-Easier for relocation. Within the bounds of your contract it is much easier to move when renting because you do not have to sell first. Much easier for those who don’t want to make roots yet.

Cons:

- Not building equity in the property. When you rent that money does goes to the renter and does not help you come to own the place. When you buy the monthly payments get you closer to owning the house.   

- Dealing with bad management. Although you may not have to fix the problems you may have to get in contact with a mananger who is less enthusiastic about fixing the toilet or de-molding than you are. This can create an extremely frustrating and stressful living environment.

- Can’t buy new major appliances, paint, or landscape. Dependinf on your management there may be many restrictions on what you can do in the rental. Including if you can have pets, put nails in the walls, etc.

- Rent prices can rise. Every couple of years rent prices often go up. If you buy you could be putting the money into your home not into renting.

- Most rentals are in neighborhoods with other rentals and rental-communities are often different from owner-occupied areas. This can be a pro or con just depending on the personality or circumstances.