My husband and I have been discussing when we are going to get a house. Currently we're getting ready to move out of our little 2 bedroom apartment into a 3 bedroom mobile home. So excited to have the extra room to move around in! Luckily for us our bills will NOT go up when we move. We have always rented but are looking into buying a house in the next 3-4 years. Yes it's a ways off BUT we're starting ahead of time to get things in order so we can be able to get approved for a loan and have a decent down payment.
Everyone has their struggles and their issues when doing this. Our first is to get my car completely paid off, which will be done by the beginning of next year. Then we have to get DH's credit lined out and pay off that debt. So by that time, the car will be paid off, our credit should go up quite a bit just with that being done. So it is a start.
My question to you ladies (and gentlemen if there are any in here lol), what are some of the biggest concerns in the difference between renting and owning?
There's the basic, your responsible for repairs, maitanence, and insurances. But what about the options that are available? Foreclosure with a GREAT price? Older home with a decent price but a chance of more issues to be taken care of before it's released to be moved into? And of course, the newer homes with a higher price tag? What options are out there after 5 years to refinance? Being that I am kindly new to all of this I am in dire need of info. So if you all can be of any help that would be AMAZING! Thanks guys!