Today, we are talking about renting versus buying a home. These are three things to consider… First, know if you are ready to settle down. The commitment to owning a home is an investment, typically the longer you stay in a home the better your return. So, consider your career goals and family planning when trying to answer this question. Next, understanding the full picture of what buying a home will cost:
- down payment
- closing costs
- moving costs
- and possibly new furniture and renovations
Finally, does your monthly budget allow for both the mortgage and ongoing repairs. When a renter has a leaky faucet, they call the landlord. When a homeowner has a leaky faucet, it's yours to fix. Want to know more about home buying or have a weekly financial wellness tip sent to you? Sign up below, or contact your local
Mid Minnesota Federal Credit Union Office.
Sign Up for a Weekly Financial Wellness Tip Mid Minnesota Federal Credit Union is federally insured by the NCUA and we are an equal housing lender.
