Should You Buy or Rent?

If you're tired of your landlord telling you what you can and can't do (or what pets you can and can't have) you may be considering owning your own home.

People often come to the conclusion that they're ready to own a piece of the American dream. But are you really ready to "take the plunge"?

Instead of calling your landlord when you have a leak, you must figure out what to do for yourself. Do you try to fix it yourself or call a licensed plumber? Do you call your handy-buddy or let it leak for another week? Instead of the worry and hassle-free maintenance, now YOU'LL be the one responsible for upkeep and that - and for many, this can be too much.

If you own your own home, you'll also regularly fork out money for taxes. You'll have to have hazard-insurance and most likely homeowners-insurance as well. You'll have to deal with the unpredictable expenses like replacing the fridge or repairing the garage door opener. These aren't necessarily nice-happy thoughts, but realistic ones to consider when buying your first Minnesota home.

For more information, check out the "Disadvantages of Buying a Home" and "Advantages of Buying a Home" and decide for yourself. There are pros and cons to everything you do in life, just be mindful of it, especially in the big decisions.

It's best to make educated choices...