Home Ownership versus Renting
There is no better time to buy real estate. The mortgage interest rates are fantastically low. You can choose either a 15 year or a 30 year mortgage and still save money over what you would pay in rent for an apartment in a good area. Houses are selling for at least 15% to 20% less than last year. Moreover, you build equity in homeownership never in renting.
If you choose 15 year mortgage, you will actually own your home at the end of that time. Consider where you will be at the end of renting for 15 years.
Monday, June 01, 2009
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