Advantages And Disadvantages Of Renting

769 Words4 Pages
We all had a choice of either buying or renting a house at some point in our lives. There is a lot of factors that come into play here which allows to do some crucial thinking . Most of the time, the choice at the top of our minds is when you’ll be leaving your parents’ house or even when you are getting married. If this was something you have foreseen, then that means you are better equip than most people. Whereas, if your idea was to buy a house right from the start which very few people might be able to afford at this time soon after they have left their parent’s house. Thus enabling one to save for a while before they can get a good amount to put as a down payment toward their new home and are able to cover the monthly payments for the next 20 years or so. Plus, you have checked out the neighborhood back and forth along with other relevant details. Likewise, renting is another option that can be…show more content…
This may include the owner setting down guidelines to follow at home such as no pets, or only 50 years old and above to rent, and might not be allowed to change the décor without the owner’s consent. Since there’s no good management of coming up with increases in the rent then inflation takes Account for that. This in turn does not guarantee your contract to be revived. Additionally, there is no government impetus when renting. More so, there would be no fairness benefits. On the other hand, there are some advantages and disadvantages of owning a home. One of these advantages is that you would have a permanent place to stay and be secured. Also, you would have the privilege to create a unique difference at your home without obtaining consent from anybody. Additionally, you can receive tax deductions and incentive for been a homeowner. More so, you can choose to live there at once or rent the house which can help you earn additional income. This is a tremendous investment that contributes towards your equity

More about Advantages And Disadvantages Of Renting

Open Document