10/27/2014
How to Know if Renting or Owning a Home is Right For You
Throughout the 1950’s-1990’s, it was conventional wisdom that renting is better than owning. In recent years, that rule has changed. The economic downturn paired with the bursting of the housing bubble makes renting an attractive option for many Americans.
In the past, the choice to rent or own was about whether you’d prefer to live in a house or an apartment. Now, there are opportunities to purchase apartments and rent homes, so there are options for renters or perspective owners to live in whatever type of property that they’d prefer.
Renting is great for people who want flexibility. Perhaps you’re just starting your career, and you’d like to be able to relocate quickly. Renting is a wonderful option for people who like to “try out” various neighborhoods in their city before finding a place to settle down.
Owning a home ties you to one location for a good period of time. It would destroy your credit to step away from your mortgage, and selling your home is a long, arduous process that could end in you losing some of your initial investment.
In many cases, contrary to popular opinion, it’s more cost-effective to rent than own. While renters pay a fixed amount each month, homeowners are required to pay additional fees, such as homeowners insurance, maintenance, repairs, amongst others.
It’s not always best to rent, however. Owning
See more: http://www.findrenttoownhomesnow.com/how-to-know-if-renting-or-owning-a-home-is-right-for-you/
