Is It Better to Rent or Buy?
Is it better to rent or to buy a home? Do you know the right answer?
Well, there is no “right answer”. Both options have their advantages and disadvantages.
if you are among the nearly 40% of Americans that do rent, your average monthly rent is costing you 20% of your total income. You are not throwing that money away, you are getting a nice place to live.
I’d encourage you not to buy a house until you can pay at least 20% of the purchase price as a down payment and your mortgage is no more than 20% of your income.
Remember, this is not our real home, so make a decision that best meets your budget and then be grateful for what God has provided.
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