Housing

Housing in the real world has two major categories - owing and renting.  In either case, monthly housing costs should be approximately 20% of your monthly income.

When you own a house, condo, or apartment, in most cases you are responsible for every aspect of the property.  You maintain the physical structure, pay all bills, and pay a mortgage to a bank or loan institution.

When you rent a house, condo, or apartment, typically you are not responsible for the physical aspects of the property, your landlord is.  You may or may not pay the bills associated with the property and you pay rent to your landlord.

More details and related links are on the the following two pages.  You should explore both types of housing before you decide which would be best for you.

Owning Property

Renting Property

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Last modified 06/19/02