The Pros And Cons Of Buying A Home

The economic downturn over the past few years has really been hard on people of all status, socio-economic background and race. It’s hard to envision an America without the beautiful home and pick-it fence, but the reality of it is that most American families do not have that vision right now. With the beginning of a new day came a way to overcome this sad reality though. The economy is on the rise I believe and with that more people, boomerang buyers, are able and eager to get back into owning a home. To do this, they should take the steps listed below. Jumping right into buying a new home is a big deal and with most people still not fully financially ready, they should consider renting-to-own. Renting-to-own is a great option for those who have some money saved up and are wanting to get a house but don’t have enough to completely buy it yet. They can set up a plan to where they can pay a certain amount each month to rent the house while saving up to eventually buy it. This is a great option because it will get people into a house again, stimulate the economy and give them the chance to eventually buy a house. Another option is to improve your credit score. Because of foreclosures and not being able to …show more content…
First, you have rent money coming in. Try to set the rent similarly to what other rates are in the area for the same square footage to gain more interest you could always try to go a few bucks below other listings. Another benefit to having renters is that you can make friends. You will have someone else living with you so they can become company and a friend to lean on. Lastly, you will gain experience. From dealing with renters as a landlord you will gain valuable business experience and be able to potentially write that on your resume or even tell the bank that’s loaning you money you have another stream of