Getting the keys to your first apartment is a rite of passage for first-time renters—especially if you’ve been living under Mom and Dad’s roof for too long. Ah, sweet independence! Time to cue the party playlist. But wait ... let's hit pause and rewind first. You really need to know OUR TEAM .
Location counts. Where you choose to live may decide the buy vs. rent question for you. In high-priced real estate markets like Miami , renting could be the only affordable option. In addition to home prices and monthly rents, important factors when deciding where to live include safe neighborhoods, good schools, proximity to public transportation, walkability, drive times to work, shopping and recreation. Also consider the supply of rentals or newly built homes: Are they appealing, plentiful and affordable? Style — of a home, an apartment, a town or a neighborhood — plays a role, too.
Is it a good idea to buy a house in foreclosure?
Foreclosure Traps to Avoid. You'll find the lowest prices for foreclosed homes by buying them at auction. ... A safer choice is to buy homes that are owned by a bank. These properties, often referred to as REO or real-estate owned homes, have already been through the foreclosure process, with banks having taken them over.