Buying a home is much more complicated than is commonly displayed. You need to ask some serious questions before making such a serious commitment.
They have agreed on some very simple mathematics:
1. Price - How much do you have for the property?
2. Mortgage Amount - How much you pay each month?
3. Taxes - How much you pay each month / year?
4. Insurance - How much you pay each month / year?
5. Water & Electric - How much you pay each month / year?
6. Home Owners Association fees - How much you pay each month / year?
7. How much is lawn care and pool maintenance per month?
8. How much does it cost to clean the house?
If the rental of real estate:
1. How much rental income per month?
2. Who will be the - how professional are they?
3. How much are the management company responsible?
4. How much do I pay for repairs?
5. How are major repairs are carried out and for the?
6. What about furniture damage?
7. How is the condition of the property if they rent and repair issues on a daily basis?
The location and quality of housing varies. Like any product, you must be comprehensive.
In summary, it should be noted that many of the homes sold in 2005/2006 are not able to generate enough revenue to pay substantial mortgages.
If the math does not make sense, why not just rent a house, whenever you want, because unless you are prepared, it is a lot less headache than a holiday home owners.
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