Curious about the advantages of renting vs. owning a home? This presentation can help you understand.

1. Programs for Patrons on Home
owning and mortgages
WHICH PROGRAM IS RIGHT FOR YOU?

2. Home Owning Basics
SHOULD YOU OWN A HOME OR SHOULD YOU
RENT? WHICH IS BETTER?
THERE ARE SEVERAL BASIC QUESTIONS
THAT YOU SHOULD ASK BEFORE YOU
CONSIDER BUYING A HOME.
QUESTION ONE: HOW LONG DO I PLAN TO
LIVE THERE?
BEST ANSWER: EXPERTS STRESS THAT
UNLESS YOU ARE PLANNING TO LIVE IN THE
HOUSE FOR MORE THAN FOUR YEAR, IT IS
CHEAPER TO RENT.

3. Home owning Basics
 The standard for considering to buy or rent is to look
at the rent payment. However, that only looks at
part of the problem. Aside from rent and utility costs,
there are no other major bills the renter usually pays.
 If you buy a home, the mortgage usually does include
monthly amounts for the property taxes that are on
the property and insurance on the property for the
time you are paying the mortgage.

4. Home Owing Basics
 These amounts do not include any upkeep expenses.
 If you have a yard for example, either you will need
to buy a lawn mower or pay to have the grass cut ect.
 The “extra” expenses can be hefty depending upon
ones circumstances.

5. Home Owing Basics
 There are some tax credits for owning a home and
first-time home buyers can receive a tax credit.
 After figuring the pros and cons, and a monthly
budget, it is time to move on to the next step. How
much home can you afford to buy?

6. Home Owning Basics
 What type of mortgages and other programs that are
available to help you finance a home will depend in
part on your income and where you live.