Students going to college look for the best housing option for them.
International students look for the best option for them. Here is another site.
People with low income look for affordable homes.
Crazy people look for anywhere...seriously, this is a little to adventurous for me!
Which option is the worst? Why?
Should you rent or should you buy? LOOK AT THIS CALCULATOR to decide.
Amanda has a 2-bedroom apartment in SC. The lease (rent contract) will run out in 2 months so she is thinking about her options.
She could keep paying $1,200 a month in rent, but that would leave her with little money to care for her 11-year-old daughter. They could move into a less expensive rental, but she only found were one-bedroom apartments.
Owning a home can tie up a lot of your money and limit your ability to move. However, you don’t have to worry about rent increases, your home value can increase, and you can get tax benefits.
It’s important to know how long you plan on staying in the area. You should also think about the fees for buying (ex. appraisal, inspection and mortgage origination). They can add a few thousand dollars to the price.
Amanda found a three-bedroom, three-bathroom townhouse where her mortgage is almost $500 less than her old rent. Because her home was recently built, she said it’s energy efficient, so her utility bills are less expensive.
Keeping a budget is key to getting many of the financial rewards of home ownership. People should buy houses that are no more than 15 to 20 times their annual rent to get a fair value. If your rent is $1,200, then homes in the range of $216,000 to $288,000 would be ideal.