They say that buying a house is better than renting it. You can have something that you can call your own as many will say. Make the best decision you can when you decide to rent a home rather than buy one. For some people, buying or building a home is practical, especially if they have found the perfect place to settle down and raise a family. But on the other hand, for some people they don’t see it as a smart move.
Is renting for you?
First, depending on your personal lifestyle, renting may be your best option, especially if a company relocates you every few years. This is true for career executives in multinational companies whose world revolves around their work. Many of these people always move to some part of the country and sometimes even to other countries.
Therefore, buying a house will not be practical for them because they will never stay long enough in one place. They will tell these people the reason why renting a house instead of buying a house is more practical and convenient for them, since they will not have to worry about finding a buyer when it is time to move to another state.
Another great advantage of renting a house is looking into the eyes of a financial executive. The savings he will realize from not paying property taxes and other costs associated with home upkeep will be great. If you are able to invest the money you save wisely, you will have a larger savings account in the long run.
Think about the costs
It is more practical for one to rent because of the costs involved in owning your own home. First, you’ll have to pay property taxes every year, which isn’t cheap. Second, there may be unexpected costs that can arise like repairs. If you can’t budget your money properly, you may find yourself falling short and finding yourself looking for ways to raise funds to cover it. Third, you must pay to insure your home, which again is another expense you are responsible for.
These are just some of the things that will make you think twice when asked why rent a house instead of buy a house. One eliminates these expenses for you because it becomes your owners responsibility and not yours. This will be one less source of headache for you.
matter of personal choice
It really depends on the person, and whether or not they want to rent or buy a house. It is a matter of personal preference. The things listed here clearly explain why renting a house instead of buying a house is a better option. It still depends on your choice. Involve your family, especially your better half, when deciding which one to choose.
