Renting has its perks. But there’s something about owning a home that gives you a feeling that you’re in control of your surroundings and you’re making an investment in something tangible. (Must be the “ownership” part.)
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Have a child headed to college? The total cost giving you sticker shock? It’s no wonder—for the academic year 2016-17, the average undergraduate tuition cost was $8,768 for in-state students and $12,114 for out-of-state students. Add in the cost of books, supplies and room and board, and your college freshman is looking at around $21,192 for in-state tuition alone.
There are many factors to consider when you decide to purchase a new home—even the second time around. Whether you want to move to a neighborhood you’ve had your eye on or you’re looking to stay within a certain school district, finding the perfect home in today’s market can be a challenge.
Buying a home is a decision that can be exhilarating and scary at the same time. When researching the advantages or disadvantages of buying a new, versus a pre-owned, home, make sure you weigh your personal needs first. Here are a few of the pros and cons of buying new versus pre-owned homes.