The Dirty Little Secret About Buying or Renting Your Home

Many Tampa Bay homeowners are under water because the house that they purchased is worth less than what they paid for it. So, let’s look at the cost of buying a home, did you know that the average buyer pay s minimum of 5% of the purchase price to close a loan. So, on a $200,000 house, that’s $10,000.

As a renter, you just pay the first and last months rent and possibly a security deposit. If a rental home rents for $1,000 a month, that’s $3,000 and you are already $7,000 ahead of the buyer.

I am sure that many of you have seen the Chevy Chase movie Summer Rental. The movie is so funny, but it really depicts all the problems that come with owning a house. That includes mortgage interest, property tax insurance and maintenance. Those costs can add up year after year after year.

And of course, you are responsible for maintenance and repairs.

A simple leak in your home can turn into a disaster.

Bankruptcy may help you and your family get out from underneath your home which is destroying your families financial security. You can learn more about the power of bankruptcy by contacting Sunshine State Bankruptcy at 727.258.4999.

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