Buying a house is an investment, meaning it is possible that an investor can lose money or make money depending on whether the asset depreciates or appreciates in value. A renter does not have the investment risk associated with owning a house. In the case of real estate, though, it is more likely that an investor will make money. For example, properties sold in cities like New York, DC, and.
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Renting can also be the first step towards buying a home, since you can get to know the area before you buy a house. It would be a shame to buy a house, then a few months later, wish that you lived a few miles away. Advantages to Buying a House: When you buy a house, it’s generally a good investment that will increase in value. This might not.
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Once you have decided on the area you should now start thinking of what style of house you want. There are many options out there, so narrowing it down as much as possible will make the process go smoother. In the meantime, you should contact a mortgage broker and get pre-qualified to see how much you can afford to spend on a home. The broker will be able to tell you what price range will fit.
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