When you are thinking about becoming a home buyer, it’s always good to run the numbers. A long-term renter can easily justify buying a home when he considers the total amount that he spends in rent over many years. Buying a home is a wise financial decision when you can afford it.

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I’m Ilyce Glink with Expert Real Estate Tips dot net and today we’re talking about the financial end of the decision to rent or buy your next home.

If you’re not sure whether to buy a house because of the money, run the numbers. You may discover that buying a home in many areas is going to be more expensive than renting. Or, it’ll be about the same after you factor in all the numbers.

Here are some of the financial issues to think about before you sign an offer for purchase:

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First, each month, you’ll have to write out a check for your mortgage. Sometimes your mortgage payment will include real estate taxes and insurance. Sometimes not. But if not, you’ll have to figure out how to pay those expenses also.

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You’ll also need to set aside cash for utility payments.

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Often, your rent will include heat and air conditioning. But when you own a home, you pay for those costs, too.

If you have a garden, you’ll need to take care of it in the summer and plow snow in the winter.

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You can buy the equipment you need, or you can hire someone to do it for you. That’s more cash out of your pocket.

And then there are all the little things you have to do.

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Like cleaning the gutters and blacktopping the driveway. And that costs greenbacks as well.

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If you’re tired of shelling out rent money each month, and not building any equity, it’s probably time for you to take the plunge and buy a house. But you’re going to want to know what it’s going to cost you before you sign on the dotted line.

For more information on buying and selling homes, visit my Web site, Expert Real Estate Tips dot net. I’m Ilyce Glink.