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Taking the leap: The benefits of buying vs. renting a home

Housing Wire

By the time the first week of the month arrives, you’ve sent off that rent payment to your landlord. Unlike renting, where you’re consistently paying out money to a landlord, a purchased home offers the prospect of building wealth since it may appreciate in value over time. These costs may also fluctuate over time.).

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Condo vs. Apartment Living: 8 Key Differences

Raleigh Realty

Might have homeowner’s association (HOA) fees. An apartment is a unit in a building that’s rented out by its owner, called a landlord. Pros: Landlord pays for repairs and upgrades. Once you pay off your mortgage, a condo owner only needs to worry about paying utilities and possible HOA fees. What Is an Apartment?

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Renting? 5 zoning rules to know before you rent your home

Movoto

Clear your plans with your HOA (if you have one). If you live in a community that has a homeowners association (HOA), there may be provisions against renting out your house. If you are allowed to have renters, they will still have to follow HOA guidelines for maintenance, noise, and other rules.

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8 Essential Steps on How to Rent Out Your House: A Comprehensive Step-by-Step Guide

Movoto

However, the logistics of renting a property and being an upstanding landlord are a bit more involved. You’ll also need to check with local authorities to understand requirements for how to rent a house in your area and any organizations like HOAs or condominium associations, when applicable. Does Rental Income Count as Earned Income?

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Renters Beware: These Hidden Costs May Be in Your Lease

Zillow

This jump in the number of renters has put pressure on both tenants and landlords. Tenants are scrambling to find the right place, while landlords are trying to find the right price. Renters sometimes forget their landlord is running a business too - until they sign a new or renewed lease, that is. Power play.

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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. Property taxes and HOA fees are the buyer’s responsibility. Homeownership is a keystone of the American dream.

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5 Expenses Homeowners Pay That Renters Don't

Zillow

Don't forget about those small repairs that you won't be calling your landlord about anymore. Sure, that monthly mortgage payment seems affordable, but don't forget to take homeowners association (HOA) fees into account. On average, HOA fees cost anywhere from $200 to $400 per month. Maintenance and repairs. You get the idea.

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