Port Equipment: Rent vs Own

If you’re in the intermodal industry, and you are looking at reach stackers for sale , then you probably are asking yourself the question: “I wonder if I should just rent these used empty container handlers … they are expensive!”. Don’t worry, you’re not alone. If you break down the numbers, you will see renting will cost you less in the short-term, but if you’re going to need one of these heavy lifters you may just want to fork up the dough! (no pun intended even though you are looking at forklifts!) At the end of the day you will just need to do what is best for your business model and make a sound decision with your CFO.

Owning a home

Owning a home

Buying a house for yourself is going to cost you a lot of money. You may think that it can’t be that high, so let me introduce you to some of the costs you will have to pay while purchasing a house. Some are paid right at the start when the seller accepts your offer while some costs must be paid after the deal is done.

Earnest money is a check that ranges from 1% to 3% of the home’s purchasing price that you have to provide the seller along with your purchase offer. Down Payment is the money that you pay to the seller upfront, usually after closing the deal. It is the percentage of home’s purchase price, typically from 3.5% to 20%. You may also have to pay Property Tax to compensate the seller for the taxes paid between the closing date of the deal and the end of current tax period since property tax is paid by the owner upfront. There are some other type of costs involved as well like Home Appraisal, Home inspection cost, First year’s Homeowners Insurance cost, and other closing costs.

Then there are the recurring costs involved with homeownership like Loan Payments that must be made monthly, property tax, Homeowners insurance, private mortgage insurance and some other payments. You also have to pay for the utilities like water, gas, electricity etc. but that is common for rented apartments as well.

Own or Rent a Home: Which is Better?


Own or Rent a Home: Which is Better?

Owning a home is everyone’s dream. Some achieve it while some don’t. The cost associated with purchasing a home is very high nowadays, so most people tend to rent an apartment. People tend to save money and start families before they even think of buying a house for themselves. But they have money, they don’t hesitate to buy a home themselves. The home ownership rate has decreased in last few years because of reasons like elevated housing prices, and high student debts. Because of these reasons young people have to wait a long time before they save enough money to buy their dream home.

But we will not be discussing the reasons behind low ownership rates in this article. Instead, we will discuss what is best for the people to do: buy your own house or rent a home. We will see if you are at that stage in your life where you have enough savings to buy a home but cannot decide if it is the right decision. We will discuss the advantages and disadvantages of owning a home and renting a home both. So without further delay, let’s see what will be the best option for you.