00:01Landlady ruling your life?
00:03No pets allowed?
00:04Can't paint over those boring white walls?
00:06And you can only use the patio on Tuesdays?
00:08Maybe it's finally time to take the plunge
00:10and call the shots in your own space.
00:12But there are important questions to ask
00:14before taking the leap into home ownership.
00:17How long do you stay in one place?
00:19If you don't plan on living in the same home
00:21for at least three to five years,
00:23then owning is probably not the best choice.
00:25You'll probably lose money in the long run.
00:27And then, of course, there's always money.
00:29How much do you make?
00:31Do you have job security?
00:32Have you built up savings for a down payment?
00:35Maybe you're thinking,
00:36Hey, I can totally pay a mortgage.
00:38I pay less than that in rent.
00:40But owning a home comes with a lot more
00:41than just a monthly payment and some utilities.
00:44Property taxes alone are sure to hit the wallet hard.
00:47You calculate this annual cost
00:49by multiplying the assessed value of your home
00:51by the tax rate in your area.
00:53And don't forget homeowners insurance and maintenance.
00:56And this is after you've paid your down payment
00:58and closing costs.
01:00Renting may feel like throwing money away
01:01on something that's not yours.
01:03But you're not tied down.
01:04Once that lease is up, the sky's the limit.
01:06The world is your oyster.
01:08You know, something like that.
01:09So if the time and money are right,
01:11it may be just the moment for you to finally buy
01:13the house of your dreams.
01:15And have all the cats you want.
01:17Here's a newbie,
01:18thank you.
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