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Quiz: Should You Buy or Rent?
Deciding whether to buy or rent is a very important decision, which should be carefully weighed out. Take the quiz below to see if you are more likely to be a buyer or renter at this time in your life.
| Directions: Give yourself ONE point for every "yes" and TWO points for every "no." |
- Do you have enough money saved for a down payment? Yes/No
- Are you planning to stay in your next home for at least 5-10 years? Yes/No
- Do you anticipate any major life changes in the near future, such as a baby or career change? Yes/No
- Are you willing to set time aside to focus on repairs and home maintenance? Yes/No
- Do you have good credit? Yes/No
- With your existing budget in mind, do you think you keep up with mortgage payments? Yes/No
- Do you have money saved to furnish and repair your new home? Yes/No
- Can you afford the property taxes in the area you wish to move, and could you withstand an increase? Yes/No
- Do you have a desire to own your own home? Yes/No
Buyer (10 - 13 points)
At this time in your life, you are a good candidate to be a buyer. You are both emotionally and financially prepared to handle the responsibilities of homeownership. You understand the tangible and intangible benefits, and wish to join 70% of American homeowners. With the help of ERA Tucker Associates, you will be one step closer to this goal. Start your search for your dream home by contacting ERA Tucker Associates today.
On the Fence (14 - 16 points)
You're on the fence - you understand the pros and cons of buying and renting, though you are not quite sure of where you fit in. If you are opposed to homeownership because you do not want to do yard work or pay for repairs, then you should consider buying a townhouse or condominium, which often takes care of the grounds. Likewise, if you see yourself moving within the next five years, it may be smarter to rent. Either way, ERA Tucker Associates is there to help you find your perfect property. Begin your search by contacting ERA Tucker Associates today.
Renter (17 - 20 points)
While owning a home is appealing, renting makes much more sense at this time in your life. There are many rental properties on the market ranging from apartments to condominiums, and single-family homes to townhouses. You should also remember that it is never too late to start saving for your dream home, even $10 a week is a start. Turn to an ERA Tucker professional to help plan for your future home purchase and to find rental options in your area. Contact ERA Tucker Associates today.
