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Tag: rent

First time home owner’s tips

First time home owner’s tips

Home & Garden
Buying a house is a decision that is not to be taken lightly since there are responsibilities and risks involved. For first time home owners, there are also a lot of extra costs. Pros of Buying a House Property is an investment. Once the mortgage is paid in full, the purchaser of the property has a home to live in for good and a cash value if he or she wishes to sell. Property prices have dropped considerably over the last 18 months in almost every country across the world, foreclosures are at an all time high, so now is possibly a good time to buy a house. A home owner has the freedom to make any changes to the property or decorating choices without having to consult a landlord. Cons of Buying a House Financial costs can be a lot more than initially budgeted for, on to...
How to save money and invest in a house

How to save money and invest in a house

Real Estate
Buying the first home starts with raising enough funds for a home loan deposit. While everyone understands the need to save for at least 10% to 20% of the purchase price, not many know exactly how to accumulate that amount of money. Saving money to buy a house requires some sort of planning and strategy. Here are some useful tips for raising home loan deposits. Open a First Home Saver Account First time home buyers in Australia should open a First Home Saver Account, a tax effective way to save for a house deposit. Basically, the first $5000 of individual contribution made each year to the account will see the government contributing 17% of that amount. This is much higher than any interest rate in savings accounts or fixed term deposits. The First Home Saver Account should not...
Renting Versus Buying a Home

Renting Versus Buying a Home

Home & Garden
Renting versus buying a home is a decision most have to make at some point during their life time. Below are some comparisons and differences: Benefits of Renting a Home Generally accepted benefits of renting a home include a much cheaper monthly rent payment than a mortgage payment, shorter-term lease options, and not having to worry about making repairs to the home or appliances. Typically, in order to rent a home, a prospective renter must sign a lease, or contract in which the renter and land lord agree on certain ground rules, including when rent payment is due and whether pets are allowed. In order to move into a rental home, usually the first month's rent and a security deposit is required. The security deposit is often the same price as a month's rent. Renting a home u...