What are the benefits of buying over renting?
- Homeownership is a big investment. Investing in the purchase of a home offers tax benefits and the ability to freely make decisions and changes to your home. Homeownership can yield a substantial profit depending on the appreciation of the home in the current housing market. Owning a home can be more costly than renting, although renting negates the ability to profit from selling your home when you decide to move.
The advantage to renting is not having to worry about maintenance and other financial obligations, such as property taxes. As well the cost of homeownership is generally higher than renting, thus, you may be able to rent a nicer or larger home than what you may be able to purchase.

Are fixer-uppers a good investment?
- Fixer-uppers can be a very wise investment if you are willing to put in the work to fix it. It is improtant to have the home inspected to make sure there are not any severe problems with the home that would make it impossible to completely fix and still turn a profit. However, if that is not the case, fixer uppers can be a great investment. Most people looking for a home can not see what is not there. In other words, when looking at homes, they can not envision the potential of a home with a little work done to it. Most people simply see what is there and decide if they like it or not. The benefit to those who can improve fixer uppers is that the cost of improvements is less than the appreciation those improvements will bring to the home. Thus, when selling the home a significant profit can be made.

Can a vacation home be a wise investment?
- Today a vacation home can be purchased for investment purposes as well as enjoyment. And yes, there are tax benefits. Some people buy a vacation home with the idea of turning it into a permanent retirement home down the road, which puts them ahead on their payments. Another benefit is that the interest and property taxes are tax deductible, which helps to offset the cost of paying for a second home. A vacation home also can be depreciated if you live in it fewer than 14 days a year, or 10 percent of the rented days- whichever is greater. As well, if you decide to rent out the property during the time in which you are not using it, you vacation home can return a positive income and ease you mortgage payments.

Are foreclosures an option?
- A foreclosure property is a home that has been repossessed by the lender because the owners failed to pay the mortgage. Thousands of homes end up in foreclosure every year. Economic conditions affect the number of foreclosures, too. Many people lose their homes due to job loss, credit problems or unexpected expenses. It is wise to be cautious when considering a foreclosure. Many experts, in fact, advise inexperienced buyers to hire an expert to take them through the process. It is important to have the house thoroughly inspected and to be sure that any liens, undisclosed mortgages or court judgments are cleared or at least disclosed.