by Susan Paige
For many people around the country, owning a home sounds like a dream come true. Although owning
your own home might sound like a good idea, the truth is that there are many ways in which opting to rent
a home instead could be more beneficial.
Still on the fence about whether or not buying a home is right for you? Here are a few benefits to renting
your home that might help to make your decision a bit easier.
Purchasing a home is a significant financial investment that will require you to remain committed to your
home for a long period of time (or for the rest of your life). One of the best parts of renting a home is that
you can sign a short-term lease, and are only responsible for your home for 1-2 years at a minimum. This
is a great option for those who aren’t sure they want to stay in one place for a long period of time, and
cannot make a long-term commitment to one home.
Not Responsible for Maintenence
No matter what shape your house is in, there is no denying that you will likely have to deal with
maintenance issues at some point in the future. From foundation repair projects to replacing
interior appliances, having to be financially responsible for fixing up your home when things go
wrong is less than ideal. One of the best parts of renting a home is knowing that you are not
financially responsible for any issues that should arise or repairs or renovations that need to be
done. Plus, most rental properties have around-the-clock maintenance teams who are able to
show up and fix last-minute issues in a pinch.
Cheaper Than Owning
Some people might justify buying a home by claiming that doing so is cheaper in the long run
than paying for a rental over a long period of time, however, if a long-term investment in a home
is not something you are interested in, signing a lease can save you tens of thousands of
dollars. In addition to the overall cost of a mortgage compared to the cost of monthly rent,
renting a home does not require a large down payment, making the overall cost of moving into a
new home cheaper when renting.
So, what do you think ?