May 22, 2006

Rent or buy, ARM vs. 30 year mortgage, SO MANY DECISIONS

I'm going in tomorrow into the escrow company to the sign the documents to complete the refinance of my first home that I purchased in June 2004. I'm also taking out a home equity loan as part of this part to pay for some home remodeling projects.

My ultimate goal was to completely refurbish the house so I could put it up on the market the spring of 2007. I'm starting to waver however considering the numerous articles I've read recently on the next hot real estate markets for 2006, and seeing several communities from the Washington State at the top of these lists. Now, I'm really thinking maybe I should still continue with the remodeling projects I had in mind, and rent the house out, but ugh, there are so many decisions. Making large decisions has already been difficult for me, so the next few months should be interesting...

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