| Actually now I own two homes...one is paid off, the other...working on it...LOL! wanna buy one? i am renting the first one to my uncle until june...then he is moving to boston. then i don't know what the hell i am going to do. if you own, you have to worry about the damned taxes, homeowner's insurance, and yes maintainance costs...but in the end, the house is yours.
to me renting is just throwing your money down the drain...30 years from now, you will still be paying on it, and it won't be yours, but in return you don't have to worry with the taxes and the insurance. repairs may be another story...depends on who you rent from...you may only see them when the rent is due, and meanwhile the roof if falling in...
i think rent-to-own is worse. the owner is betting that you won't follow through, and therefore every dime you put into it, you lose...he gains.
if you check around, sometimes a 30 year fixed-rate mortgage can be as much or even less than 1 month's rent...you build your credit, AND you build the equity in your house. as long as you maintain the house, it will appreciate in value over a few years...then you can use the equity to buy/build an new house if you so choose.
land is another good investment, but some banks don't seem to think so...LOL! either way, they aren't making any more land and it will appreciate according to supply vs. demand.
either way, do a hell of a lot of research before you jump out there!
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