The Pros and Cons of Renting

What are the pros and cons of refinancing your home loan?

Refinancing is best evaluated on a case-by-case basis. We’ll give you the facts about the pros and cons of refinancing so you can make the right choice for your home (and wallet). Refinancing your home loan can give you extra money for improvements or reduce your monthly payments.

What can I do with my Equity when refinancing my home?

When you refinance, you may be able to secure a lower interest rate or change the terms of your loan. You can also take money out of your accumulated equity using a cash-out refinance or home equity loan. Many investment property owners refinance to make improvements to their properties, increasing both rental and market values.

What are the pros and cons of rent to own homes?

A lease purchase agreement requires the renter to buy the home when the lease is up; lease purchase agreements come with a lot more catches than lease option agreements, and buyers should approach lease purchase agreements with caution. For the purposes of these pros and cons, we’re going to be looking exclusively at lease option agreements.

What happens when you refinance a rental property?

Improving the livability of your space builds goodwill with your current tenants and increases the market value of your home. This means that you can charge more in rent in the short-term and make your money back by selling the property for more money later on.