Home Sweet Home

Let's face it, if you are in the engineering / technology industry, you're going to start off alright. (Well, unless you have a ton of college loans to be worried about, but we'll get to that later.)

So, the question a lot of you may face as you plan out your future is, "Do I rent, or do I buy?"

There are a lot of factors that play into this decision, but, I think that if you are going to be in one place for at least three years, you should buy. *Remember, a lot of this is just my opinion.* Well, let's think about it from a logical standpoint, because (as engineers) this is how we think. When you rent, your money goes to the person that actually owns that house. They want you to rent because they want to make money off of you - it's an investment for them. On the other hand, buying a house is an investment for you. Your money is actually going towards something. Another good reason you may want to buy instead of renting is the special incentives for first-time home buyers. Some of these incentives could be no down payment, a lower interest rate, or no closing costs. But you have to be careful, make sure that whatever incentives they offer you do not actually factor into the final price of the house or aren't hidden somewhere in your mortgage loan. I know, I know, we're all tired of hearing about "loan consolidation" and "mortgages". You may even be thinking, "I just want to pay off my car first".

The bottom line is - you are probably going to have to pay for all kinds of things. Look at everything as a whole and know what your rates are. College loans can have lower interest rates than other loans. And sometimes you can consolidate to lock in a lower and fixed interest rate. You have to decide for yourself. When it comes to your money, no one is going to know your situation better than yourself. Look into loan information on your own. Inquire what your interest rates are and pay more toward whatever has the highest rate. Makes sense, huh? I know a lot of us would rather stick our money under a mattress and never have to worry about all the details and confusion. You've worked hard for that degree - put it to work at it's best by putting your finances in order.

I'm looking for a house right now and I've just consolidated my college loans - if you have any questions or want advice, I can at least point you in a good direction.