Buying a house is a goal for many, and it’s a great dream to strive for. However, sometimes it really is better to rent a home than own one. How do you decide which one is right for you at this stage in your life? Use this guide from the Degnan Group to compare buying vs. renting a home to understand the pros and cons of each option!
Why You Should Rent a Home
Sometimes, renting makes more sense than buying a home. Three reasons why you may prefer to rent are for flexibility, less responsibility, and more convenience!
If you’re just starting out in a new career, or planning to move again soon in the future, buying a house probably isn’t for you. When you rent, you can pick up …show more content…
If the furnace breaks, or the basement floods, or you need a new carpet, those unforeseen expenses will not be coming out of your budget. You can rest assured that your monthly payment for housing will always be the same, no matter what storm hits or disaster strikes!
The last reason why renting can be better than buying is because it’s simply more convenient. The bottom line is that buying and selling a house takes time and costs money. Renting is easier. You should buy a house if you’re planning on staying in one area for awhile, because the process of purchasing a home is simply not something that you’re going to want to do every year or two.
If you rent and then later decide you want to be in a different school district, want a backyard, need another bedroom, or a million other things that you may only discover after moving into the house, moving to a new one is really easy! If you buy, you’re more likely to just have to learn to live with it!
Why You Should Buy a Home
There are three major reasons why buying a home is better than renting. They are finances, stability, and the ability to call your own