If you are thinking about buying a home for the first time, this might sound like a monolithic undertaking! Believe me, it’s not. Well…you will have to sign a lot of paperwork and spend a lot of time on the phone. But at its most basic, it’s something people have been doing forever. And if your one cousin can figure it out, you surely can too.
Renting versus buying have various pros and cons. On the one hand, you’ve got the simplicity of renting. You don’t have to pay for repairs, property taxes, a down payment, that kind of thing. On the other hand, you are paying some other schlub’s mortgage every month. That’s money you’ll never have back again. When you’re paying a mortgage, you’re paying yourself every month. [Read the full article]