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Should You Buy a Home or Keep Renting? How To Decide in 7 Steps

Realtor

How important is the freedom to renovate? If you’ve got the itch to tear down walls, try your hand at tiling, or experiment with a bold new wallpaper, you’re better off buying than renting (unless you have a very open-minded landlord). Owning a home gives you the freedom to renovate and decorate to your heart’s content.

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Should You Buy a Home or Keep Renting? How To Decide in 7 Steps

Realtor

Watch: Buyers Should Know These Factors That Drive Up a Home’s Price. How important is the freedom to renovate? If you’ve got the itch to tear down walls, try your hand at tiling, or experiment with a bold new wallpaper, you’re better off buying than renting (unless you have a very open-minded landlord).

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The Pros and Cons of Buying a House

PennyMac

The ability to decorate your walls, or paint them sky blue, and live with a pet without landlord approval makes buying a home attractive, as do the substantial financial benefits such as tax savings and equity building. Buyer builds equity in the home. Property taxes and HOA fees are the buyer’s responsibility.

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Inheriting A House? Here Are Your Options

Quicken Loans

Converting the home into a rental , for example, may seem like a great way to profit off the home without selling it, but managing landlord responsibilities is no simple feat – especially if you’ve never managed rental properties before. Any decorative or nonessential improvements are at your discretion.