Posts Tagged ‘property’

Home improvement loans are indeed worth taking out. However, rather than using an independent loan company specialising in home owner loans, approach your bank or building society and take extra borrowing on your mortgage as their rates will often be much more favourable.

The reason that I think that home improvement loans are worth while is probably down to television programmes such as grand designs and property ladder.

Both give the indication that as long as you spend the money wisely this will almost immediately add value to your home far exceeding the initial outlay.

Not so much grand designs are they usually build houses on an epic scale, but certainly property ladder indicate that with a few subtle well spent changes here and there you will be quids in.

They often recommend, ensuite bathrooms, knocking down walls, open plan living spaces and new kitchens and bathrooms to increase the value of the property.


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Buying vs. renting a home

“Should I buy or should I rent?” This is a question that has entered every adult’s mind at one time or another. Here is a review of the top pros and cons of buying versus renting a home.

Renting Your Home.

For younger people and those with very little money, this is most people’s first choice. Renting a home does have certain advantages; you have no long-term commitment to stay except from month to month. Also if you are going to only be physically located in a certain area for a short time renting is a good option. Renting doesn’t carry any costs of repairs or maintenance. rented

Disadvantages of renting include the fact that you don’t have as much control over the timeliness of repairs and maintenance. You have to wait for the property owner to take care of broken things, and sometimes you need to wait. Another disadvantage of renting is that you aren’t building any equity in a home of your own; you don’t get any of your rent back after you move out. Also renters cannot claim any of the tax exceptions homeowners can.

Renting is the better choice if you are going to be in the home for a short period of time, or you need flexibility. This is often a better choice for students and young people.

Buying Your Home.

“How can I afford a home? I don’t have that kind of money!!” Buying a home to the uninformed seems like a huge commitment and financial expenditure. Most people think buying a home is more expensive than renting a home, but the opposite is usually the case, especially if you are going to be living there for an extended period of time. buying

Advantages of buying a home rather than renting a home is all the money you put down while you are paying your mortgage, you are building equity. Also there are tax deductions you can take on the interest, property taxes and your mortgage payment.

One of the great advantages to home ownership is the issue of personal control. You can decorate the way you want, make improvements, and make the home suit your tastes. There is the pride of ownership to take into account.

Making the decision to rent or buy.

To make a good decision on whether to rent or buy a home, there are several things that must be considered, and this varies from person to person. How long do you plan on living there? How much space do you need? What are the upfront costs, the maintenance costs, and the monthly costs? If you are buying, what type of a loan do you qualify for? Write down the answers to these questions, and you re on your way to making the right choice regarding renting versus buying your home.

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