Owning A Home Vs Renting One

Owning A Home Vs Renting One

Pet Friendly

Being someone who loves to have pets in my life, it is probably my TOP concern in owning a home. Today, there are many homes available for rent, however, do you have pets, and are you planning to have kids? Well, it will be hard to say no to those puppy dog eyes on your child’s face when they get to that age where they need a friend...a furry friend. Having the chance to own property comes with many advantages.  



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Landscaping


Some landlords may be okay with you doing different things in the yard, but not always. I rented a home for a year where the yard looked so dull and I wanted to add mulch and flowers. The moment I go buy the supplies and get out the rake the owners come pulling up in the yard and they didn’t want me planting any flowers. When I signed the lease I was supposed to keep the yard up and I thought this was part of it. Once the owner’s leave I just rake the leaves back into the flower beds. I was not happy there, so when my lease was about to expire I got my things and left 3 days early. The most important thing here is, that you must know specifically what they don’t want you to do and you must be okay with that.


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Rent


If you rent, chances are your yard space may be limited, there may be no fenced in area for pets, you will be paying towards shelter ONLY, your neighbors could be unfriendly, your neighbors may constantly come by to borrow sugar, coffee, or milk etc. A number of things could happen depending on the location or size of the property. You may not like something in the home, however, you cannot make changes unless the property owner allows you to do so. If you have issues within the home that need maintaining it will be done at the discretion of your landlord.

Buy


If you buy, you get to choose your own yard space, you can have pets, and whether you will have or want any neighbors close by. If you decide you want to take out a wall or update some areas of the house that are dated you can do so. Owning your own home gives you a sense of pride without the stress of pleasing a landlord daily. As a buyer you will also get to deduct your mortgage interest and possibly increase savings. You will build equity in your home instead of building equity in someone else’s home.


These are just a few things you may want to consider and really think about before making your decision. If you are not ready to take that leap into home ownership, renting may be a better choice for you. This post is not to sway you either way, but it has information that could help you make your final decision.





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Phone: 205-299-2422
Dated: November 1st 2017
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