Owning vs Renting: Why High Rents Are Worse Than a Mortgage over the Long Term

If you're at the stage in life where home ownership is nearly within your reach, you're probably wondering whether you should start looking for a home or whether you should just keep renting. Renting is easier, people say, and it gives you more mobility. But over the long term, all that rent money can really add up - and it eventually reaches a point where buying a home is a better deal. So why is paying a high rent a worse option than buying a house and getting a mortgage? Here's what you need to know. Renting Doesn't Generate Equity…
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Understanding ‘PITI’ and What Goes in to Your Monthly Payments

Ask any friend or family member that owns a home and they will share that it takes a bit of management to keep all the expenses under control. Let's explore the concept of PITI and why it is vital to have a clear picture of how much your home is costing you each month. Just What Is PITI, Anyway? PITI is an acronym that stands for "principal, interest, taxes and insurance," which are the four main components that make up your housing costs. Principal - this is the amount that you are paying against the total amount that you borrowed…
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Taking Out a Mortgage for the First Time? Learn Why a Condo Might Be a Great First Home

Are you starting to tire of paying your monthly rent to someone and never building any equity? Renting forever can be a significant pain, especially as you're contributing to someone else's financial well-being. The good news is that there are affordable real estate options out there for those investing in their first home. Below we will share a few excellent reasons why an apartment or condo might be the best choice for a first-time home buyer. A Manageable Monthly Payment In most markets across the country, condos and apartments are available at a significantly lower cost than a full-sized house.…
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