PrePurchase

Transcript

00:00

PrePurchase Education

00:02

Brought to you by....

00:05

Module List

00:05

Homebuying vs Renting

00:06

What you should know before buying a home

00:06

Chapter 2

00:06

Financing

00:07

What every homeowner should know!

00:11

Advantages of Homeownership

00:12

Greater control over living environment. 

00:14

Establish roots.

00:14

Avoid inspections by landlord.

00:16

Modify home to suit personal preferences. 

00:18

Potential Tax Benefits.

00:20

Build wealth via home equity

00:24

Disadvantages of Homeownership

00:25

Missed payments result in loss of property

00:26

Must bide by HOA rules, if applicable

00:28

Must pay for all maintenance costs

00:34

Advantages of Renting

00:35

Typically lower costs

00:36

Only responsible for rent and utilities. No taxes or maintenance fees.

00:38

Easy to move once lease is expired

00:40

Opportunity to learn neighborhood before committing to it

00:46

Disadvantages of Renting

00:46

Lack of privacy

00:48

No financial benefit

00:49

Less stability

00:56

Summary Advantages and Disadvantages of Renting vs Buying

00:58

Advantages Buying: Buying: Building Wealth Reduced Tax Liability Renting: Low costs No long-term commitment

01:01

Disadvantages Buying: Potential of foreclosure Responsible for all maintenance Renting: Lack of stability No financial benefit

01:05

You have finished Module 1 of the PrePurchase Training entitled: Rent versus Buy!!

01:06

Congratulations!

01:10

At the end of this video, there is a short Knowledge check. Upon completion, you can move on to Module 2: The Homebuying Team