No. 2 of 10 Things to Consider Before you Buy Your First Home

Financial Difference between Renting and Owning: Working thru a budget and knowing what your new expenses will be as a home owner versus what you pay now (as a tenant or if you are living with family) will give you a clear idea of how buying a home will impact your lifestyle choices.  Things to consider would be; will your transportation costs change as you will be moving closer to or further from work? Will you eat out less or more now that you have your own place? What are the extra utility costs?  What are the maintenance costs of the property etc.?  You might be surprised to see that buying your first home may cost you less than renting!  But if it doesn’t, how much of a difference is it and are you prepared for that?  Our Rent Versus Buy Budget Planner Tool will breakdown the difference between your expenses as a renter versus a home owner giving you all the answers you need.