Owning Property
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Owning Property |
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How Much Can
You Afford? Rent or Own Calculator
Find a House
Owing property can be exciting but also scary. Owning has its good and not so good points. The good is that you can use your property as collateral against a loan, the mortgage interest is typically tax deductible, and when you sell your property, you receive the profits. The bad is that it may take 15 to 30 years to pay off a mortgage.
The first step to buying property is to find out how much you can afford. The best way to do this is to use a financial calculator. Many on-line housing sites provide these calculators.
Use Quicken's calculator to find out how much house you can afford.
Once you know how much house you can afford, it is time to talk about mortgages.
To find out about mortgages, go to the site What is a Mortgage?
Now that you know how much house you can afford and you know about mortgages, it is time to find a house!
To find a house go to realtor.com's Find A Home site.
You may have discovered that based on your projected yearly salary, you can't afford much of a house. If this is the case, perhaps renting in a better housing solution.
To find out if renting or buying is better for you go to this financial calculator.
If renting is your better option, explore the renting property site.
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Last modified 06/19/02