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Should you rent or buy? Some basic questions to ask yourself

This is a good guide for those thinking about buying a home.  Run through this and be honest.   Its a good conversation starter no matter what.

My two cents:

* I don’t necessarily buy into the 20% down.  The goal should be 5% down with extra money for closing costs, moving costs, utility start ups, inspections, etc…

* I also can’t quite agree with being in a home less than 5 years would be a reason to rent only.  I get there are costs associated with buying a home – closing costs on a mortgage, inspections, decorating to taste – that may never be recouped if selling within a year or two.   Think about if you rented for 5 years at $850 – that would be paying someone $51,000 to live in their place.  That’s money you will never recoup. 

This guide came through American Eagle Credit Union  Click here for there website  They are also on Facebook.

Tina Siebert


Blogged by your favorite St Louis Realtor:

Tina Siebert  314-603-8555

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