Should you Get A Mortgage Or Rent? 7 Critical Factors To Consider

In this video, I answer the question that first-time homeowners will have as it pertains to should you buy or rent their own house, or whether should they get a mortgage or rent. The seven factors explored include the opportunity cost of renting a house versus buying one, mobility and flexibility as it pertains to home ownership, your financial readiness as it pertains to your ability to afford a mortgage, the down payment, and closing costs as well as the insurance and maintenance expenses that come with home ownership. Personal readiness is also explored and the state that a real estate market is in is a key factor. The price-to-rent ratio is considered as well
As a critical factor in determining if you should buy your house or rent it. With the real estate being as unpredictable as it is now getting a mortgage may or may not be the best option. Deciding between mortgage brokers or banks, getting good mortgage interest rates, and optimize in the opportunities that exist in the real estate market will be the best bet to determine if you should mortgage versus rent.

#rentvsbuy #realestate #personalfinance

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