Buying a house is a commitment that not everyone is willing to go through. It is especially tough to buy a house when you are in your early twenties. Most people buy a house when they have saved enough to pay for the downpayment. Continue reading this article to understand more about whether buying a house is the right option for you.
WHY BUY A HOUSE?
For many, owning a house is a status symbol but before you follow the trend and ask yourself, “Why do I need to buy a house?” To know the answer, you must know what you can do after buying a house.
- You can live rent-free: Owning a house means there is no one present you must pay for every month.
- You will feel more secure: You will feel more secure because the chances of trespassing are very low if you own a house. Owning a house also means no landlord can force you to shift houses.
- You will feel a new sense of freedom: Living on rent means following the landlords’ rules. If you love pets and want to own a dog, the landlords might not allow you.
- You can live there after your retirement: After your retirement, you can still live peacefully without anyone ever asking for rent.
- It is one of your biggest dreams: Owning a house is one of your biggest dreams, and fulfilling it will give you a sense of relief and satisfaction.
- Buying a home means investing in buying an asset: A house is an asset, not a liability, and the value of your property will eventually increase over time.
- No problems regarding the landlord: You won’t have to deal with your angry landlord daily because it’s your house, and nobody can judge you.
- No compromises with your lifestyle: You can live however you want to, and no one can stop you.
WHY RENTING IS THE RIGHT OPTION FOR YOU?
Now, let us turn over the leaf and talk about renting. What freedom would you get if you rented instead of purchasing a house?
- Less expensive: While buying a house is like a dream goal for you, it is very expensive. Living on rent is very budget-friendly. You can save money and invest it in different places from where you will receive some passive income.
- Low maintenance cost: While owning a house means high maintenance cost, which includes repair costs, property tax, renovation costs, different types of bills, etc. but staying on rent means you don’t have to pay any money because the landowner pays all charges.
- High portability: Living on rent is the best option for those who have jobs where sudden transfers from the job are present.
- Access to amenities: While owning a house with a gym and pool is very expensive, there are many accessible amenities available in some mid-scale and up-scale apartments. The tenants don’t have to pay any cost for using or maintaining the amenities.
- Low utility cost: While living in your own house means peace for most, it is very costly to manage everything, and it costs more to heat the house, but living in an apartment means the floor planning is already made, and maintaining heat is easy and cost-friendly.
- Fixed rent: If you are living on rent, you must pay the same amount every time per your lease agreement. Though the landlord can increase the rent, the tenant can come to a budget as they know the amount they must pay.
- Lower insurance cost: A homeowner needs to pay a significant amount for insurance purposes, but a person living on rent can apply for a renter’s insurance policy which covers almost everything owned.
- Living with friends: The huge benefit of staying on rent is that you and your friends can live together the rent can be divided.
Now you know the difference between living in your own house and staying on rent; therefore, you can make an informed decision but you might get an eviction notice made on Eviction Notice Template. If you want to own a house, you can find houses for sale on the Internet, but if you have decided to stay on rent, you may check out Atascocita homes for rent and find a suitable match. Make sure you check out the neighborhood and the pet policy of the housing before you sign the paperwork.
