Despite where you choose to live we are all faced with the choice of buying a home or renting a home. This option can differ in the list of responsibilities depending on the state or region one lives. Lets look at New Jersey and see what our best bet would be and why. Areas in New Jersey are mostly crowded and a lot of the homes sit very close side by side. So what would be better to own it or to rent it? Read more: Boraie Development offers luxury living at The Aspire
A lot of work goes into owning a home. Something a lot of new home hunters who choose to buy do not take into consideration is home owners insurance.
If you live in a flooding area or near low lying water you be required to carry flood insurance or in places that are prone to heavy storms, this is very costly. Looking at cost despite the fact that your mortgage may be a bit cheaper than rent in your area by say $200 or so are you really ending up on the better end of the deal in todays economy?
Home repair carries a very heavy price tag sometimes. small repairs can add up too and for people who decide to buy older homes for a cheaper price initially this is where you get hit the hardest. Some repairs can be taken care of quite easily but when reparse that require permits come into play you have to pay for the permit and have someone licensed to fix it and the cost keeps adding up.
The best part of this though is that one day you will own it and not have to pay any mortgage, what a great goal if you can get through the buying process. Learn more about Boraie Development LLC:: http://www.nytimes.com/2005/03/06/realestate/at-two-extremes-of-a-housing-market.html?_r=0
If you were to have something break while in a rental property you simply call the owner of the home who is by law required to fix it. How simple is that?
You loose some freedoms when renting though, most home owners limit things like painting and adding on to the home so it is pretty much as is in that area. The down side is you are not working toward anything in a rental home. The choice is hard. Read more: Explainer: How Downtown New Brunswick Has Emerged From Its Doldrums