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Buying a house
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In this crazy days, the decision of buying a house is a very unpleasant one. You have to measure the facts and analyse every aspect, you have to be very carefull and pay attention to every detail, because buying a house may involve some risks.
Pro:
- you'll be able to make any changes in any room
- you'll have something to leave to your children and grandchildren
- it offers you a feeling of security
- a perfect solution if the rent you are paying is more expensive than the amount you would pay every month for the loan
- if you win the lottery, buying a house is the perfect acquisition
- buying a house represents a good money investment
Con:
- it limits your freedom of movement
- it affects your budget
- eventual mortgages can make your life harder; plenty of paperwork required before buying the house, lots of money given to banks
- buying a house involves many frustration, especially because you have to meet many requirements and conditions imposed by the banks; banks don't give money to anyone, so you have to demonstrate that you can pay your bills and the loan. In addition, you'll need enough money for the down payment, a good credit score and an income that's 2 to 3 times higher than your expected mortgage payment
Con arguments
a new way to save
Submitted by Anonymous on Mon, 07/14/2008 - 14:50.
the new way to save...
a house in 2008 costs $200,000
next year that house will cost $190,000 or less.
by just waiting a year, it is like adding $10,000 to your down payment!
patience is key! wait it out.
the mortgage risk
Submitted by Anonymous on Mon, 07/14/2008 - 14:50.
I want to buy a house, but with this morgage rate, it's pretty scarry... real estate is on a mine field right now!
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