My name is ADionne and I am a "Dream Pusher" who loves helping people discover their purpose in life and hidden potentials. Also I love exploring life and the world, learning and doing new things keeps me excited about the future. Please take a look around and if something inspires or encourages you, please comment and share. Remember you are never too old to pursue your dreams!
Mortgage vs Rent?
Which one Is Bet For You?
Did the calculator help in your decision? If you are still on the fence, it’s ok not to rush it.
I myself have been on all sides of the fence at one point in my life and have learned the
pros and cons from all angles. Here’s what I’ve learned from my point of view.
“What’s good for others may not be good for you too. So put your current info in the calculator to see what benefits you best!
Rent vs Buy Calculator
Pros of having a mortgage and owning a home:
- It’s yours you can do whatever you want with it, whenever you want.
- You can knock walls down to make more space or paint all the walls purple if you want.
- If you pay on time it will help your credit score majorly.
- If you have equity in your house value you can pull cash out or get a line of credit.
- You will receive credit offers in your mail frequently because you have your house as collateral.
- If you ever lose your job or income change there are many programs to help you stay in your house.
- You can have as many pets as you want please don’t hoarder them though!
- You can party when you want but please be respectful to your neighbors. Don’t like noisy neighbors!
- I think you get the point! You have total control over your home and no one can tell you what to do with it!
Cons of owning a mortgage and home:
- If you want to move you have to find a good renter or sell you house which can both take time.
- Anything that goes wrong with the house you have to take care of it out of your pocket.
- Your home insurance doesn’t always cover the full cost of home disasters and sometimes don’t cover any.
- If you have bad neighbors or neighborhood changes over the years, you can’t just up and leave.
Pros of renting:
- If something breaks like pipes or heater you can just call the landlord and save your money.
- If you have a lawn you can work out in your lease that the landlord takes care of keeping it maintained.
- Some utility bills may be included in the rent so your monthly bills could be cheaper in some cases.
- If you decide you want to move to another state etc you can give a written notice once your lease is up.
- When you want to move you don’t have to wait to sell your house first.
- You don’t have to pay state property tax.
Cons of renting:
- If you have a problem with your landlord there a process you have to go through to get out of your lease.
- Sometimes you don’t find out if you have a good landlord or slumlord until their services are needed.
- You can’t just paint walls or change things to personalize the space all the time.
- You usually have to pay an extra pet fee or not allowed to have pets at all in some cases.
- If you have noisy neighbors you have to deal with it in the best way possible until your lease is up.
- If your neighbors are not clean you will share their infestation problems of unwanted guest!
- Most importantly you are paying someone else to mortgage off when you can have your own.
ADIONNE – YOUR DREAM PUSHER