Articles Tagged: Rent

MYTH# 3: My mortgage payment will be less than my rent

Reality: Your mortgage payment is just the beginning. The “hidden costs” of ownership can add up to thousands of dollars a year. Few prospective owners truly appreciate how expensive annual maintenance on a house can be. A Wall Street Journal commissioned study concluded that “almost every house, no matter how recently or expertly built, is […]

By  localtalk
| Filed Under: Rent

MYTH# 2: Paying rent is throwing away money

Reality: For the first five years of ownership, you are simply giving away money to the bank. During the first five years, more than 80% of your monthly mortgage payment is interest. And nearly one third of all homeowners move within five years, before they start building any real equity. Add in the money they […]

By  localtalk
| Filed Under: Rent

MYTH# 1: Benefit from Morgtage Tax Deduction

Reality: A majority of owners reap no annual tax benefits from owning a house. The biggest homeownership myth in the country is that owning a house is a huge tax break. If your mortgage interest and other qualifying expenses aren’t more than the standard deduction ($9,500 for joint filers, $4,750 for singles in 2003), there […]

By  localtalk
| Filed Under: Rent

Don't Buy the Myths: Renting Can Be a Smart Decision

(Republished here with the permission of the National Multi Housing Council) Rent vs. Buy “You need to buy a house.” How many times have you heard that? Turns out that could be bad advice. Here’s why: Every year, thousands of Americans jump into homeownership for the wrong reason, usually pressure from friends or family. It […]

By  localtalk
| Filed Under: Rent

Calculating Your Apartment Budget

Making your Budget Once you have your list of desired location and amenities, it is now time to find an apartment based on your budget. If you have not already closely examined and organized your budget, moving can be a good opportunity to apply some basic rules and maximize your paycheck. Make sure you can […]

By  snowconant
| Filed Under: Finances,Move Planning,Rent

Rent vs Buy: The Rise of Housing Costs

Over the next few weeks, we’ll be featuring snippets from an article authored by the National Apartment Association (NAA) and the National Multi Housing Council (NMHC) entitled Don’t Buy the Myths: Renting Can Be a Smart Decision. The Rent vs. Buy article focuses on 9 widespread misconceptions regarding the benefits of homeownership over rental apartments. […]

By  mattdichiara
| Filed Under: Rent

Rent vs Buy: Uncovering Hidden Costs of Homeownership

Over the next few weeks, we’ll be featuring snippets from an article authored by the National Apartment Association (NAA) and the National Multi Housing Council (NMHC) entitled Don’t Buy the Myths: Renting Can Be a Smart Decision. The Rent vs. Buy article focuses on 9 widespread misconceptions regarding the benefits of homeownership over rental apartments. […]

By  mattdichiara
| Filed Under: Rent

Rent vs Buy: The Costs of Building Equity

Over the next few weeks, we’ll be featuring snippets from an article authored by the National Apartment (NAA) and the National Multi Housing Council (NMHC) entitled Don’t Buy the Myths: Renting Can Be a Smart Decision. The article focuses on 9 widespread misconceptions regarding the benefits of homeownership over apartment rentals. MYTH# 2: Paying rent […]

By  mattdichiara
| Filed Under: Rent

Rent vs Buy: Debunking Myths about the Mortgage Tax Deduction

Over the next few weeks, we’ll be featuring snippets from an article authored by the National Apartment (NAA) and the National Multi Housing Council (NMHC) entitled “Don’t Buy the Myths: Renting Can Be a Smart Decision.” The article focuses on 9 widespread misconceptions regarding the benefits of homeownership over apartment rentals. Myth #1- I’ll Reduce […]

By  mattdichiara
| Filed Under: Rent

Diversify Your Portfolio by Renting

At the most basic level of financial investment, there are two maxims that can often be mutually exclusive. The first is to hedge your bets by diversifying your portfolio and spreading out your risk. The second is to invest in where you live; more specifically, if you are going to be paying a large percentage […]

By  mattdichiara
| Filed Under: Rent