Owning assets that bring in extra income is a great financial strategy, even better than owning assets which merely generate expenses. Owning a house or apartment requires maintenance, repairs, taxes, interest and other expenses. Income from a rental property can generate positive cash flow. Learn more about the possibilities of investing in rental property in Ohio. Do It Yourself (DIY) Being a handy person can be a great asset when it comes to doing light work around the house to keep things in good condition. Becoming a landlord requires some hands on work. It may be too expensive to handle outside contractors but doing the work can save money.
Waterfront properties are what dreams are made of for many people. Types of waterfront homes include private homes on the beach, small cabins near lakes or even lakeside luxury condominiums. Find out what the benefits of owning waterfront property in Ohio can be and what to look for when search for the perfect place to call home. Live it Up People who choose to reside near the water seem to embrace a different lifestyle centered around joy and peace of experiencing the shoreline. More time and money is spent on maintenance, yet it is a worthwhile investment that will build memories for years to come. Postponing the joys until later can result in an overabundance of stress and anxiety from living in areas that are far from water (and far from peaceful).
Comparing Renting vs. Owning One of the hottest topics in housing is whether to rent or own a home. Market conditions and personal finances and other things factor into the decision to rent or own a home. Learn how calculations actually work in order to feel confident on deciding what is right for the budget and family. Check Numbers The first thing to understand is how math works for each individual looking at homes. Calculating monthly costs of home ownership, subtracting tax benefits and comparing the final figure will help gauge the difference between home rental versus home ownership in the same neighborhood. Assume a credit score of 750, a $300,000 home purchase price with 10 percent down ($30,000) for a 30-year fixed mortgage. Current rates hover around 3.25 percent. A mortgage calculator will tally the total monthly cost as follows: Mortgage payment of principal and interest $1,175 Property taxes $300 Private mortgage insurance (PMI) $133 Homeowners insuran