” Buying ” A Home vs ” Renting A Home “
One of the best parts of becoming an adult and getting a job is homeownership. Many people remember their parents telling them “there’s nothing better than owning your own home.” Some people, those who prefer renting, will tell you differently. Read on to find some pros and cons to owning a home and to renting a home.
1. Owning a Home – Pros and Cons
Pros:No one can tell you what color to paint the exterior or interior of your home.This/tag helps explain it more.
If interest rates drop, you have the opportunity to lower your monthly payment.
You will have better credit and more credit offers.
It’s all yours.
There’s no landlord to tell you what you can and can’t do.
Cons:When something breaks, you have to fix it.
If you have bad neighbors, you have to deal with it.
You can’t pick up and move to another location for your job.
If you ever have a family, your home may become too small.
2. Renting a Home – Pros and Cons
Pros:If something breaks, you don’t have to spend a dime to get it fixed.
You know what your monthly payment is going to be.
You can move at the end of your lease.
It’s like a test drive for someone that’s considering owning a home.
Cons:You can’t normally decorate with different paint colors inside.
Some landlords aren’t quick to respond to problems.
You have to obey the rules of the lease or risk getting evicted.
The house really isn’t yours, regardless of how long you live there.
