Errata, Mississippi - Homes, Houses, and Lease.

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Jones - Homes

Examine your lease in detail: How much notice is required prior to moving, how large a deposit you have to make, how much cleaning is required upon leaving to get your deposit back, and other provisions. Some agreements require first and last months' rent plus a security deposit--a significant chunk of change. Is the lease month to month, or a 6- or 12-month period? If you can't commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner.

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