If you have ever heard from disturbed and perturbed homeowners who commonly lament that they feel like they are merely renting a home from the bank as opposed to their wiser friends who choose to truly rent a home and not be subjected to the ins and the outs of home purchase, there are ample reasons as to why. First and foremost, a home is supposed to be an investment, however when owners are dwarfed by costly repairs, dropping home values and banks that seemingly don’t really care about them, many times it is similar to renting a home, which would, in the end, cost a lot less and have no apparent contractual long term strings attached.
How the Numbers Stack up
Here is a good way to compare the costs. Let’s say you bought a home at a decent average interest rate of say eight percent on a thirty year fixed note—in the end you pay roughly a hundred or so grand in interest on a four hundred thousand dollar home. Read more
There are so many horror stories out there about renters who had the worst experience possible when renting a home. And not surprisingly, many of the bad stories tend to relate to horrible landlords, better know by most as slum lords. These are folks that will take your money, not maintain the property and evict you if you fail to pay or pay late. Nice people huh? So if you find yourself wondering if you have a good landlord or a bad landlord, there are some things that you can do to figure this out. The below paragraphs should help you determine what kind of rental situation that you are in.
For those of you who are looking for a home rental, the state of the current real estate market should be something that you take into consideration. Why you might ask? Simple! Because there are currently many landlords out there who may not be paying the bills on their rental homes, and if they are not, they could very well be nearing the foreclosure process. Some renters have even been duped into renting a home that is already in the foreclosure process, and there is not much they can do about it but move, as the law does not protect you from this sort of anomaly.
