Cutting Expenses

keysThe media often portrays home ownership as part of the American dream. A man’s home is his castle, after all. However, purchasing a home is a big decision, and families considering it should think it all the way through before they sign that mortgage agreement. In some cases, renting an apartment is the wiser choice. Before you make your next move, consider the following factors.

Deciding Between Renting And Owning

Cost of the Keys

Keys are such little things, but they can represent hundreds or even thousands of dollars spent. The upfront cost of buying a home is often significantly more than that of renting an apartment. A typical down payment on a house is 20 percent of the home’s price, and homes average around $200,000. Not all mortgages require a down payment, but experts recommend that prospective buyers be able to make one.

When you rent an apartment, you often have to pay a small application fee, a security deposit, and the first month’s rent (and sometimes the last month’s rent as well). If you have furry friends, you can expect to pay a pet fee. Even if you’re renting a place in a new building in a popular neighborhood, you still save money over buying a house.

Month to Month Expenses

Usually, when you budget for an apartment or house, the first thing you think about is the monthly rent or mortgage payment. However, there are other things to take into account with each type of living arrangement:
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round table

The Round Table – August 17, 2014

We’re back for another exciting edition of The Round Table. It took a few weeks off because, well, my summer has been busy as heck! Unfortunately (depending on how you look at it) the busyness doesn’t stop until September, just to pick back up again! Anyways, the summer overall is going great. I’m just sad to see that August is already halfway over…Fall is right around the corner. One last note, The Plutus Awards have started. For those who do […]Read the full article...

video conferencing

Business Communications Made Easy With Video Conferencing

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pulling hair out

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too much debt

5 Signs You Are In Way Too Much Debt

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mutual funds

What Are Open Ended Mutual Funds?

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The Round Table – July 27, 2014

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college students

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saving money

Creating A Positive Mental Attitude: 3 Ways To Save

When we think of financial freedom, we think of great riches, mansions and super cars. However, what is important to understand is that there’s no need for financial freedom to be such an outlandish ideal, and it can actually be far simpler than that. For some of us, financial freedom entails breathing room, ensuring that there’s always enough money in your account to cover rent, car payments and other living expenses, and a little extra for those rainy days. The […]Read the full article...