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SMART MONEY STRATEGIES FOR EVERY AGE AND SITUATION
Your 20s and 30s—Establishing Your Financial Foundation

Section 3 of 11:
REAL ESTATE:
Owning vs. Renting, What Is Right For You?
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Purchasing a home is probably the single biggest investment you
will ever make. The entire process of finding, financing and
maintaining a home is fraught with complexities, both financial and
emotional. Despite the difficulties and high cost of home
ownership, it remains the ultimate American Dream for most
people. This report will help you determine whether or not is it best
for you to buy or rent.

Each section of this report contains useful tips, techniques and
action strategies that you can implement right away. Combined
together, these tips and strategies are designed to help you learn
how to micro-manage your funds so that your money multiplies
itself.

Read on and reap the financial rewards!

Jordan E. Goodman
America’s Money Answers Man
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REAL ESTATE:
Owning vs. Renting, What Is Right for You?

Moving from a rented house or apartment to home ownership is
almost every young person’s dream. However, it takes a disciplined
savings program to assemble the down payment of 5 to 10 percent
of a home’s value, as well as closing costs of several thousand
dollars.

And once you have scraped together the down payment, the costs
of carrying a mortgage may take a huge bite out of your budget—
28 to 36 percent of your gross income. Over time, if your income
rises and the mortgage costs remain the same, that percentage
will fall.

To minimize mortgage costs, look into all the mortgage alternatives
available. For example, you will make much lower monthly
payments on an adjustable-rate mortgage than you will on a fixed
loan. You might also investigate the loan programs sponsored by
state housing agencies that make homes affordable for first-time
homebuyers. These programs often demand lower down payments
and offer mortgage rates of one or two percentage points below the
current market rates.

If you cannot afford a home, spend as little as possible on rent
because you receive nothing in return for the money other than
housing for that month. By keeping your rent low, you can invest
any excess earnings in a savings or mutual fund account, which will
build up your capital over time.

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HOW TO REAP THE REWARDS YOU DESERVE!

Starting Now . . .

Use the following Resources, Action Steps and Extra Info to take
the next step toward your solid financial future.

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RESOURCE | RESOURCE | RESOURCE
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Everyone’s Money Book on Real Estate
by Jordan E. Goodman

The ultimate dream for most Americans, despite some of the hurdles it poses, is owning a home. See how Everyone’s Money Book on Real Estate can help you get the most for your money, whether buying, selling or investing…..

www.MoneyAnswers.com/bookstore/

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EXTRA INFO | EXTRA INFO | EXTRA INFO
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In the market for a home?

ARC Loan
http://www.arcloan.com
1-888-ARC-LOAN

The Automatic Rate Cut Loan is a mortgage in which the rate only
adjusts downwards and never goes up. You can use and ARC Loan
to finance a new home or refinance an existing mortgage.