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Money Myth: Buying a Home is Better Than Renting
Manage episode 296748675 series 2925791
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In this episode, we discuss when it is the smart financial decision to rent versus buy, the benefits of renting, and the additional costs of homeownership. Should you rent or dive into homeownership? Listen to find out.
Action Steps:
If you are currently renting and considering buying your own home do the following: (1) Get your financial house in order by paying off your other debts and saving up an emergency fund; (2) Save enough money to cover at least a 10% downpayment, preferably 20%; and (3) Make sure you plan to stay there at least 3-5 years.
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