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13 Home - Prentice-Hall Inc Housing Weighing the...

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Prentice-Hall, Inc. 1 Housing Weighing the alternatives of renting vs. buying ¤ Personal and lifestyle considerations ¤ Financial considerations – http://www.kiplinger.com/tools/ Houses Typically single-family, free-standing dwellings • ___________________ more space more space greater privacy builds equity • ____________________ maintenance time and costs repair costs resale hassles ______________ Corporate-owned multi-unit dwellings in which the residents, as shareholders, own stock representative of the value of their unit Monthly homeowner’s fee unit. Monthly homeowner s fee. _______________ Multi-unit dwellings; residents have sole ownership of the living space but joint ownership of the land and common areas. Monthly maintenance fee Monthly maintenance fee. Planned Unit Developments (PUDs) Own home and land it sits on as well as shared ownership of the development. Monthly homeowner’s fee for maintenance and common expenses. Popular on West Coast.
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