Lease vs Own ?What's ideal for you?

For many North Americans today, leasing has become the default choice. Yet, is that so bad? There have always been two ways to have a look at the rent/own choice: The practical and the money points of view.

First the practical:

Planning on staying in place for over 10 years? In the current day?s job market, the likelihood of relocation for a job or looking for a job is way higher than only five years ago. Unless you are certain you will remain in one place, you may be much better off renting.

Have you got the time and money for home maintenance? The majority forget to add in the time and cost of home upkeep. If you are too busy or too stretched financially, you may be better off leasing and letting the owner look after it.

How about the money perspective?

In years past, when real-estate was appreciating at more than 5% a year, you might have simply plugged the numbers into a ?rent vs. own? calculator and, assuming you might qualify for the best financing rates, the numbers usually slant towards owning as the better fiscal alternative.

In today?s economy, real estate isn?t a sure thing for appreciation, at least in the way it had been. You might also expect property taxes to increase in several regions to cover state and municipal deficiencies.

If looking at it from an investment viewpoint, home ownership doesn?t hold the same advantage that it once did. Leasing at a fixed monthly cost and then saving the difference (that is, if you really do save the difference) can produce similarly fruitful results if not better over a ten to twenty year period.

For many the ?pride of home ownership,? which is neither a practical or fiscal consideration, it is still the driving inducement to purchase a house. For more and more folks, saving for the future is of larger concern. At the end, the ?rent vs. own? conclusion should come down to monetary priorities and practicalities.

Tim James says, Approvals.com Credit Card, Loans and Mortgage website with great deals for saving money. Our main offerings include: Credit Card Comparison shopping, Credit Score Information, Current Financial News, Bad Credit & Auto Loan Approval Guides and Personal Loans.

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Related posts:

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2. Saving Money Through Your Car Lease Options
3. Research For A Family Car Lease
4. Things To Consider When Thinking About Whether To Lease Or Buy Office Space
5. Why It Is Correct To Choose A Car Lease Option

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Source: http://www.healthyfifty.com/business-investment/finance/lease-vs-own-whats-ideal-for-you/

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