Throughout the United States, many people believe that renting is significantly cheaper than owning a house. This is actually only true in some select cities—meaning you could be paying more for a temporary lease than you would for reaping the long-term financial benefits of homeownership!

To rent or to own is one of the biggest decisions that retirees face. Recently, industry experts have observed a decline in the share of homeowners between the ages of 55 and 64, but that does not mean renting is necessarily the right option for you. In fact, the decision basically comes down to your own priorities. Check out our list of pros and cons of homeownership and renting when you retire to help make your decision a little easier.

Owning a second home can come with a variety of tax benefits, depending on how you plan to use the property. Whether you’re going to rent it out to a vacationing family or hoping to simply spend your weekends at a new beach house, it’s important to understand the tax rules that apply to each option before buying. Here’s what you need to know:

According to the National Association of Home Builders/First American’s Leading Markets Index (LMI) released this morning, housing markets throughout the country are back to an average of “normal economic and housing activity”.

As a borrower, there are several important steps to be aware of when it comes to the home buying process. First and foremost, you should know that the process does not solely consist of finding the house of your dreams, making an offer, and moving in shortly after. Sure, you can find a home and make an offer, but that bid is actually only the first step of the closing process. There are several additional steps to take before that offer becomes an official sale. Throughout this time period, the house sale is known as “pending” or “under contract”. 

According to Investopedia, an investment property is “real estate property that has been purchased with the intention of earning a return on the investment, either through rental income, the future resale of the property or both.” In order to successfully make a profit with this type of property, it’s important to thoroughly research the location where you might invest. In fact, there are three features in particular you should look at:

This week, Fannie Mae announced its newly expanded student loan cash-out refinance program and introduction of two new policies for homebuyers with student loan debt. Through these initiatives, the government-sponsored enterprise (GSE) aspires to assist hopeful (but previously unqualified) buyers with unresolved debt to transition into homeownership.

As a result of this year’s exceptionally mild winter, home remodeling has drastically increased early this spring. According to the National Association of Home Builders’ latest Remodeling Market Index, renovations have spiked five points since the end of last year—that’s the highest index reading since 2015!

As a borrower, there are several important rules to be aware of when it comes to flood insurance. With the majority of mortgage loan transactions requiring the purchase of this type of protection, it’s particularly crucial to understand the most common mistake buyers make when it comes to this type of insurance: flood insurance lapses. Basically, your flood insurance can lapse if you fail to make a payment or disregard renewal when your insurance is near expiration. When this happens, the borrower could be subject to higher rates when purchasing new flood insurance and may be sited by the lender as a violation. So what should you do if your flood insurance lapses? Let’s take a closer look.