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Renting as a Way of Life?
Dave Ramsey’s thoughts on renting long-term and not buying a home. Dave thinks it’s financially unwise in most cases and explains why.
The problem is throughout the scope of your life, you’re going to pay more every single year to be a renter. By becoming an owner, you can lock in the vast majority of your expenses and the home goes up in value.
I would not say that renting is a way of life. I will tell you a lot of people get in too big a hurry to buy, and I think renting for a period of time—longer than some people think—is a good thing.
[Flash 9 is required to listen to audio.]
One House Too Many
Caroline in Charleston is getting married, and her fiancé has a home in Asheville while she owns a home in Charleston. They can pay off the Asheville home in six years and look at it as an investment. Should they keep both homes, live in one, and rent one out? Or should they sell one of the homes? Dave recommends selling one of them.
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Where Does The Inheritance Go?
Claudine in Los Angeles owns two homes. One was inherited. Claudine recently retired and has $51,000 to place into retirement savings. An aunt just passed away, and she inherited about $750,000 in addition to another $250,000 she has in accounts. What should she do with the $750,000?
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Don’t treat the money you saved for a house down payment the same as investment money
Candice on Twitter wants to know where the best place is to put her money that she’s saving to buy a house.
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Making Money at Buy
Brian in Orlando is debt-free and interested in getting into real estate. He’d like to buy a small investment property. What’s the best way to go about finding a deal in order to make money on it?
