![]() We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. But the costs of buying are more varied and complicated than for renting, making it. All examples are hypothetical and are for illustrative purposes. The choice between buying a home and renting one is among the biggest financial decisions that many adults make. There are two main kinds of investment property: Residential rental property: a home you buy with the intent to rent out to others to make a profit Purchase. If you cannot get a mortgage from a commercial lender (bank) you may qualify for a loan from a local authority.As your home will be secured against the loan, you must keep up your payments or risk losing your home. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. If you are buying a home, you will probably have to take out a mortgage, which is a long-term loan to finance a property purchase. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. ![]() The American Institute of Certified Public Accountants
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