Why Rent Should You Rent Instead of Buy?

Why Rent Should You Rent Instead of Buy?

Home owners had a crisis recently. They were unable to pay mortgages because of economic downturn. Home rates dropped during the recession period. After this period, rents are rising. So, it seems like a better idea to rent house than to own one.

Cost: Mortgage costs are really high. You can avoid situations that happened during the period of recession by renting house instead. Renting house allows you to move freely, without worrying to pay mortgage fee or worrying about interests going up.

Inflation: It is a crisis that economies face now and then. You don’t have the risk of going bankrupt if you rent house instead of owning it.

Interest rates: You don’t have to worry about the increased interest rate and the fact that these rates accelerate when you fail to pay your mortgage fees.

Taxes: You don’t need to worry about taxes. Paying taxes are often a big hassle at the end of the year. So, if you rent a house, you are exempted from this trouble.

Renovation: Homes often need renovation works, which can be very expensive. If you rent home, you won’t have to worry about any renovation works.

The home owner will do it for you. Some special features like making the house more energy efficient, or changing the roofing may require lot of work. If you rent a house, you won’t have to worry about these issues.

Debt: There is no question of getting into debt when you rent a house. You only pay the monthly charges, and if you are out of money just move into a cheaper accommodation. Unlike, home owners who often accumulate debt in order to pay their mortgage fees, renting homes keep you free from everything.

All these factors indicate that renting home is better than owning one.