Unformatted text preview: variable costs, equity may go up, down, or stay the same. If you want to move, your home usually needs to be sold. Any work that needs to be done, you have to do it yourself or hire outside help and is paid by you. There is generally a larger initial investment such as the down payment. Some advantages of buying your home would be; over time, the mortgage balance decreases and equity builds, even if the value of the home does not increase. You have the ability to remodel and redecorate your home to match your needs and desires. There can be tax advantages attached to home ownership. Also, you are not paying someone else’s mortgage....
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- Spring '10
- term fixed mortgage, water heater breaks