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One major decision people make upon settling down into a new environment is whether to own a house or rent one. This is quite common with young couples in their 20s who are just starting out with life. This is quite a decision considering the effect your choice will have on other expenses because, for the average person, there is just not enough cash to throw around.

On a general note, people prefer to own a house in place of renting one. Ask the average American teenager about his plans for the future and he would likely mention the building of mansions in major cities in the United States and other top-notch areas in the world. However, the reality is that things are not always this simple.

There are situations where the best option is not to own a house. At the same time, renting is not always better than owning a house. It all depends on your personal situation, future plans, and the way circumstances play out with time. Therefore, there are some points you need to have at the back of your mind while you make a decision.

The economy of real estate in Biloxi is not so bad from a distance. However, note that with privileges or assets come responsibilities. Not that there are no responsibilities involved in renting an apartment. The point is there are more responsibilities that come from owning one and it goes beyond implications on your finances. Here are some things you will have to actively take care of by yourself if you own a house.

  • Trash pickup
  • Repairs and maintenance
  • Pest control
  • Building insurance
  • Homeowners insurance
  • Property taxes
  • Several other expenses

Mortgage vs Rent

A good number of these expenses would have been settled by caretakers if you only rented a house instead of buying one. However, the status quo that comes from property ownership is something everyone desires.  So, if you want one and you have the means for it, you can always go for it.

On a second note, if you don’t have plans to settle down or stay in Biloxi for a long time, it is best you shed such plans for now. If you need to purchase a house or rent one in Biloxi, you don’t have to go through all the stress alone. Reputable real estate companies such as Thumb Print properties are working hard to find you a good deal both within and outside city limits. Therefore, you would be doing yourself a lot of good by reaching out to them.

Time factor is very important in this regard. 10 years is quite a long time to live in a rented apartment in Biloxi if you have the means to apply for a mortgage. If you are staying for that long, the mortgage option is always better. As at the end of ten years’ stay in Biloxi, a rent option would have cost you $129529. On the other hand, a mortgage option will only cost you $94020 or thereabout.

The killer factor that seemingly makes the mortgage option more expensive is the interest rate. However, if you have the capacity to shorten the duration, it will do your finances a whole lot of good as this will help you cut down on the interest rate.

Obviously, the requirement for home renters and that of homeowner differs from that of homeowners. There are special considerations given to individuals who have served in crucial positions at one time or the other. A perfect example is found in the military. There is a provision for VA loans for ex-military personnel.

The foremost requirement for obtaining a VA home loan is a VA home loan certificate of eligibility. There are several categories of VA home loans for ex-military personnel. Most of the time these categories are based on the length of service and operations in which military personnel were actively involved. For example, those involved in the cold war in Vietnam are classed under the wartime category. Other categories such as peacetime category and active duty service personnel also have their respective criteria.

There are quite a number of added costs that are not so obvious if you are to buy or rent a home in Biloxi, Mississippi.  For many, they think it is just about that one-time payment. However, the expenses earlier listed should also be called to mind. For example, an individual who decided to explore the rent option might just decide to call the owner If an appliance gets faulty. Landlords are aware that this situation might come up. Hence, they do factor in a safety deposit after you must have made payment for the rent.

On the other hand, an individual who bought a home will have to bear this maintenance cost on his own. Some who decide to buy have explored the option of leasing out the maintenance of their homes to firms and companies that offer home maintenance services.

In the long run, it is noticed that both buyers and renters are not immune to additional costs after making basic payment for the building. However, buyers are at liberty to decide what level of maintenance activities to adopt. After all, the building is totally theirs. This is not totally true for renters on the other hand.


You can not exactly say if it is generally right or wrong to buy or rent a house in Biloxi, Mississippi. This is because the condition of individuals varies. Some are uncertain about their period of stay in town perhaps, they will be relocating soon. However, the status quo, peace of mind, and maximum freedom of utilization of facilities gives the buying option an edge over the renting option. Therefore, if you have the means and you will be around for a long time, you might want to take the buying option.

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