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keys-1317390_640Is it time to buy your own house or simply rent for now? You must analyze carefully prior to deciding which way you should go. Since especially serious money is involved here particularly if you decide to buy your own home. Gilbert AZ Homes for Sale are the best investments. Still clueless if you must buy your own home or simply rent? First things first. Can you afford the payments if you decide to buy your first home? Find out about the present interest rates and compute how much you could rationally spend-and not just have a loan of. Can you handle your debts? Or the better question is, do you still have pending debts to pay? In order to have a clearer view of your financial status, add up all your mortgage insurance, property taxes, estate taxes, mortgage payment, plus credit cards, medical bills, educational plans, or car loans if you have any and all your other debts you can remember. Now, divide the total by your monthly earnings (prior tax) so that you can arrive with your debt-to-income ration. You must keep it at 36% max–preferably, lesser. Reality check 101: Of course, the most sensible question you first have to ask yourself is, “Do I know what I’m getting myself into?” Aside from the money element in buying a house, be sure that you are prepared in owning a home. If not, then you might as well rent a house, for now. It seems that most people have no idea about their mortgages. Best homes at Queen Creek AZ Real Estate. Review your contract and understand what it’s actually telling you and not what the lender is telling you. You could look for assistance from a real-estate lawyer or anyone you know which won’t profit from what you purchase. dollars-31085_640Otherwise, when you rent,it gives you the freedom, the leeway and you can easily pick up your stuff and leave-if you have to. It can be to another place like a different city, with different neighborhood, it can be on a cheaper place, go back with your folks, or find another place to rent with a roommate to save on cash. Nevertheless, whatever you reasons are for moving, it exemplifies the advantage of renting–the freedom. Worst case scenario? Bid adieu to your deposit. When you rent, no worries regarding fees and interest payments For affordable homes, check out Homes for sale in Gilbert AZ. Renting can actually be a lot cheaper than having your own house. So, should you buy or rent? That’s up to you and your finances and of course, if you’re ready for it.