Renting vs Owning Compare and Contrast
First off renting a home can be financially cheaper. When you rent you aren’t required to put a large down payment down. Most landlords require one month rent plus a security deposit for any damages you may cause. The landlord is responsible for ensuring the property taxes are paid for yearly, and any other costs that aren’t included in your lease. Unless you are putting a lot of money down most rental payments are less than a house payment may be.
Secondly, when you are renting a home you are less likely to have any unexpected costs. A furnace or leaky roof could be pricey to repair. When renting a landlord is responsible for the up keep on your home not you. There are certain laws in place for landlords that ensure the home you are renting will be kept up. If you have any unexpected problems all you have to do is call the property owner.
Finally, when looking for a place to rent you can often find a place where yard work is also the landlord’s responsibility. If you are a busy person this could benefit you immensely. For no additional charge or a minimal charge your lawn and parking will be taken care of. This could also save you money because you don’t have to purchase expensive machinery such as a lawn mower or snow blower. Not having to worry about your yard maintenance can save you a lot of time.
Renting a home can mean less responsibility for the tenant.
It can be financially cheaper
-doesn’t require a large down payment
-not resposnsible for additional property taxes
-can be cheaper than a house payment
No unexpected costs
-not responsible for repairs
-landlord is responsible for up keep
-if you have a problem you just call landlord
No yard work
-landlord is responsible
-don’t have to purchase equipment