Deciding whether to rent or buy a home is a decision take very seriously for you and your family. Look at the pros and cons and be well-informed.
Making the decision to rent or buy a house is a huge one. Each choice comes with its own set of pros and cons and which works depends on your individual circumstances.
Renting a house has the obvious advantage of being easier to depart from. There is usually only one month or the duration of a lease to complete and you can be well on your way. A house of your own can take much longer to sell leaving you stranded where you are unless you decide to rent your home and move on.
The obvious drawback, or so it appears, of renting a house is that the money you pay for rent each month goes to the owner and leaves you with nothing gained other than a place to live. The owner of the property has the benefit of the investment which is earning more value every year, while you merely pay money and gain no extra potential earnings.
However, though there is an advantage in the investment part of home ownership there is the disadvantage of needing to have the funds available to make sometimes very costly repairs and maintenance. So that investment is coming with a price tag all its own.
If you have pets to consider then renting becomes a real difficulty. Many landlords are unwilling to budge on their no-pet policy and you may spend months more looking for housing than you would if you were purchasing.
Purchasing a house requires a large amount of money in most cases, compared with the average of $2000 to obtain a rental. Buying a house requires money for a down payment as well as closing costs which can easily near $5000 or more.
If your family is expanding, then purchasing a house now for your current needs and income may be pointless if you will need to move in a few short years. Once children play into the picture the previous carefree days of moving are gone. Though still a thrill for some people, it is usually a real pain for the children, especially if relocating takes them far from familiarity and friends.
Finding a rental may be quicker in some cases if you don't have a lot of requirements like pets or location. Some rentals can be available the day you are looking while buying a house usually takes at least thirty days to move into.
However you decide to make your decision, you are ultimately considering finances, family size, available funds and desired stability. With those in mind you can choose which option is best for you.
http://scsc.essortment.com/homebuyrent_rugs.htm
