Renting and Owning Your Home
Whether you are looking to rent or own your housing, there are things you need to understand.
Questions to Ask:
- What is the total cost of rent and other fees, such as security deposits, utilities, or parking?
- What lease options are available and what are the lease terms, renewal options, and penalties for breaking the lease?
- What amenitities are available, such as laundry, fitness center, or community room and pools?
- What is the neighborhood like and what amentities are nearby, such as restaurants, grocery stores, and public transportation?
- What is the process for paying rent and what options are available, such as online payments or automatic withdrawals?
- Is Renter's Insurance included?
Check out this Renting Calculatorto see what you can afford.
What to Know:
- How your downpayment will affect the amount of the loan and interest you will pay
- What costs are involved in purchasing the home
- Know the local property values and market conditions
- The owner is responsible for all home repairs, taxes, HOA fees
Check out this Mortgage Calculator.
Purchasing a Vehicle
For most people, purchasing a vehicle is the second highest priced item that will be buy during their lifetime (next to purchasing a home). Before handing over your hard-earned dollars, know what the vehicle is really costing.
What to Know:
- What is the total cost of the car (including taxes, fees, and add on cost)?
- What financing options are available and what are the interest rates, loan terms, and monthly payments associated with each option?
- What is the car's fuel efficiency, maintenance history, accident history, and warranty coverage?
- What is the dealership's return policy and what options are available for exchanging/returning the car?
- Does the vehicle align with what you need and value?
Try out this Auto Loan Calculator and learn about the real cost of the vehicle.
Purchasing a Used Vehicle vs. New Vehicle
Have questions? Want more individualized support about housing and purchasing vehicles? Click here to meet with a mentor!
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