it
buy 0 ? 'That' the qu tion.
Thed . iontobuy hom hould
not mad lightly. :y hom
buy J'8 ha n mpted by
boo and that prom'
riches in te and promote
comple m to make anyone
a millionaire with " 0 Money
Down".
The reality' that real tate
is asolld in tment that requires
a personal well a financial
commitment. A down payment is
only the beginning. Horne owner-
hip invol ongoing mortgage
and tax payments and expe
uch as maintenance nd im­
provemen .
Real estate d n' just mi­
raculously appreciate in value.
Today, house prices have dropped
or leveled offbecause ofthe econ­
qmy. Butbuying hom' ill a
F long tenn investment.
If you buy before you are finan­
cially able it could be a decision
you will sorely regret.
Here are some guidelin to
determine if-you are ready: you
have a solid steady income and
can afford mortgage payments
that may be more than your cur­
rent rent.
You know that you will stay in
your community for several years
and don't expect to be transferred
soon. You recognize the responsi­
bility involved in buying a hom
and can commit no only to a
down payment but also the the
monthly payments on a mortgage
loan
Once you have made th deci­
sion to buy, move quickly. For
every year you delay you will be
doing without the tax advantages
of home ownership. You also run
the risk that your rent will go up.
'Rentlng-
The Advantages
For some people there are ad­
vantages to renting. Rents have
not increased at quite the same
rate as the cost of buying a house.
The price of owning a hom in­
dud the high t of mainte­
� and utiliti .
Renters have far I expense
for inside and outside upk p. In
an apartment, your utility ts
are lower because supplying heat
and light to a complex of 10 or 20
units is less expensive per unit
than paying for the same utili ies
for three-bedroom hom.
For city dwellers, renting may
be I expensive than buying. In
cities with good mass transporta­
tion you don't n rily have to
own a car.
Renting - The
Di advantaqes
Ren do go up,
sharply. When was th time
your rent w nt down w h n your
I expired? Also, th owner of
your building may 11 to someone
else, causing ren to go even
high r. Perhaps wo , h units
may converted to condos, forc­
ing you to eith r buy i or move.
Th cost of buying a home, in
comparison, may be higher at
fi t but is fixed for as Ion as
thirty y . Also, when nting
an apartment, you li very close
to your neighbors, which can
inean I priv cy .. If you rent,
you may find you lf'subj ed 0
ita eleventh year of. operation is a
popular eatety in his hometown,
Columbus.
. "Launching the products in .
other markets· my yofinvit­
iog America to dinner," ted
William , "The r ponse to
Glory'! products has been excit­
ing. The distribution support we
receive from upermarket chains
:ys a great deal about their com­
mitment and support of minority
entrepreneurs, and also reveals
their priority in providing quality
products to their consumer. "
tio hips with ocal groups and
orpnizatio in an ffort to cr.
te opportuni. for community
tio involvement.
"W want to have a inth
communiti . that upport "
added Wllliams.
For information on whe to
obtain Glory Foods products in
your area, contact: (614) 252-
2042.
AS GLORY FOODS pre­
pares to enter new markets, addi­
tional plans call for the company
to initiate and �trengthen rela-
IF YOU'RE. FEELI G
DISCOURAGED
BECAUSE
GS
TOO
MANY TH.I
HAVE
n igh­
unbear-
GLORY OOD C. began
with imple' "To create
down hom " in eouth m
styl cooking t t' quick and
to .
Since ita inception and launch
in Columbus in 1992, Gloty has
earned y of 8Up-
porters - custom and distri-
bution penetration contin to
climb.
The product' the brainchild of
founder and president of Glory
Foods Inc., Bill Williams who has
over 20 years of experience in the
food busin including manag­
ing hotel and restaurant chains
and starting a specialty food dis­
tribution company.
Williams graduated from the
Culinary Institute of America
with honors. Williams', The Mar­
ble �taurant which' in
COME B'ETWEE
YOU AN·D
SKD Realty & Investment Co.
REGINALD PERRYMAN
(Sal e� Associ ate)
Detroit' Waynel M comb Residential Special'
HUD Homes, FHA, VA, Assumable,
rent while buying, land contract
homes available, and inves1ment
property.
17536 Ch ter, Sul1e 0 OffIce (313) 881- 614
Detroit, chlgan 48224 Pag r (313) 818-6 39
YOUR
PERSONA
FINANCE
B.ET
OM
E
,
Th Option to Buy
If you want to buy a horn but
lack the cash for a down payment,
you may be able to purchase a
home on an option is. The
m t common arrangement' for
you to becom a tenant and pay
rent plus an extra amount of
money to be applied to buying the
horne at a later date. For exam­
ple, a house was rented for· 300 a
month and the tenant mad pay­
men of$500 a mon h. The addi­
tional 200 was applied toward
the down payment. Within two
years, almos 5,000 was aceu­
mulated, representing ten per­
cent of the sale price of 50,000.
It' . toenteral .
agreement, only if the sale price
of the hom has been agreed upon
in advance. The oontract should
clearly spell out all the conditions.
You may want to get an attorney
or real estate agent to help you
structure this kind of deal.
Charles R is host of 1M nationtJlly
syndiooted radio program, "Your perrKJtUJl
. , cmd author 0( "Your Cotn..rnal-
Guide In Persona: � Plan-
CALL
1-800-292-1300
o
COU
W
BUSINESS SERVICES
AGI
G_
OU
A
ORD
L
T
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573-3010
A
EW 0
GAG
D
o
Ove,30 Years' Experience
SOME
IT Will
PAY
TO DEAL
WITH
RAYI
A
OU
o
s.
\' i i In 'I'll; , j
"-" .,.,.. "' ....P
m rFDI
Realty & Investment Co.
e (III, d Real Esiet M II er
Located To serv. e You·
863-3222
11000 W. McNIchols
D t. MI. 48228 SUite 8-5
Reparation Todayl
No More Delay!
o
or
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OMEB
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AND SOUTHFIELD
BUSINESS MAIL
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DETROIT, MI 48244