What’s the difference between a house and a
home, and how do you make the best purchase
choice in either case? Those seem like
straightforward questions, but there’s a lot to
take into consideration to make a smart
decision.
First of all, a house is a property from which
you expect to make money, and a home is
where you live. There are some factors in
common for choosing a good deal for either
one of these but also some differences that you
should be aware of.
In today’s market, for both houses and homes,
it generally makes sense to avoid getting the
biggest, most expensive dwelling you can. Buy
only what you need, and you’ll have the
opportunity to make improvements with the
money you save. You can determine what
would be right for a home size for yourself. In
the case of buying houses for investment, the
ideal size for a rental unit is 3 bedrooms and 2
baths. It’s what most renters want, so you have
a better chance of charging a good monthly
rental price and having high rates of occupancy.
Another factor that holds true for both houses
and homes is the familiar real estate mantra of
“location, location, location.” You can make
more money from renting out a house in a
desirable area. For the place you call home,
you also want to be in a nice neighborhood
where you enjoy living and your property
A House or a Home?
retains its value.