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Modern Living Room

Owning vs. Renting

Depending on who you ask, renting can have some "advantages" over homeownership. Some things that can be considered an "advantage" at first glance are really a disadvantage in disguise.

Some examples of those myths of to renting:

"Renting a home can seem cheaper than buying a home" This is not always the case in fact you may come to find out that you can save money when transitioning from renting to owning a home. The cost of rent is determined solely by your landlord. After the lease is over the landlord can raise rent for any reason and you'll be forced to pay or move if you can not. When you buy your mortgage is consistent year after year.

"You have more flexibility when you rent." Most leases are for 12 months. So, if your job requires you to move frequently, renting can be a desirable alternative to owning: Most leases no matter how long tend to have clauses that benefit the landlord, such as clauses for pets, or limits on what your allowed to do in your home. Also if you want to stay at your current address past your lease you landlord has the option to raise your rent. Is that really more flexible? What do you prefer flexibility or security and peace of mind?


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