Renting vs. buying a home: Which one suits you most?

Renting vs. buying MICHAEL GARLAND, REALTOR

Renting vs. buying When the question comes that what will suit you while you have to decide renting vs. buying a house, there will always be a strong debate due to the financial pros and cons. No doubt both sides of the picture are full of valid points; still it can be a little unclear for those who are going to decide it for the first time in life. The recent alterations in the tax laws have also made it less feasible to own a house, so the dispute of renting vs. buying seems to settle does with this single point.

Renting vs. Buying Pros and Cons When deciding renting vs. buying the most common quarrel is, Why should you pay a monthly rent on regular basis to a landowner along with all the utility bills when you can own a home by paying same amount of installments even for a exact period of time?

In fact, there are many other than financial reasons why renting home stands more appealing and suitable. You always need to be sure whether you are in a good financial position to buy a house or not. You always do not have enough capital for that purpose, but on the other hand while analyzing renting vs. buying, your financial position or sound amount of capital does not matter, you just have to pay the advance and rent to occupy any dwelling that suits you on the first hand. In most cases you have multiple choices and the first house at hand is not your only consideration either. If you’re financial circumstances aren’t in order, and you think that yet is it is not the proper time you can live as long as you want on rent.

Is Paying Rent a Waste of Money?

The question often asked when analyzing renting vs. buying is that whether paying rent is a total wastage of your money as you remain homeless at the end no matter how much rent you have paid through all those years. Yes, in fact you are wasting money in a sense, but the real picture is not so. You are always getting something in return of your heavy rent each month e.g.; shelter, safety, peace of mind, and a healthy environment for yourself and your beloved ones.

Even if you buy that house, you’ll have to spend a lot of money in terms of various taxes and other fees – like the rent, it is the capital you will not be able to see again.

Thank You!

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