Proface

One of the key questions that you will face when it comes time to move home is whether you should rent or buy. Both come with their own distinct advantages and disadvantages, so you must put a lot of consideration into each before you make your final choice.

Here we will look at a few of the advantages of renting an apartment instead of buying a house.

Less Responsibility

When you own your own house that means that you are responsible for every single thing in it. If the carpet is worn you are the one who is going to be paying for it. If the boiler breaks down then nobody is going to be able to get it repaired for you. You're going to have to do all of that yourself, which means you are going to have to make sure you budget accordingly to account for any surprises.(adsbygoogle = window.adsbygoogle || []).push({});

Renting vs Buying? In our current economy many are questioning whether buying a house really is better than renting.

"But does owning a home really trump renting? With the economy stumbling, house prices falling, and credit tightening, many housing experts are questioning the conventional wisdom." - Justin Ewers, of usnews.com

With declining home prices, increasing expenses, and greater difficulty in securing mortgages, many people make some valid points in renting over buying a home, when you consider the typical way people pay their mortgages:

• when the housing market slumps, owning a home becomes little more than renting from the bank
• if the down payment was invested in a mutual fund, you might be further ahead financially
• tax breaks of home ownership often are not enough to offset expenses
• home ownership comes with many other expenses - from maintenance to insurance to taxes, none of which build equity
• the average family stays in a house only six years

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Renting vs Buying? In our current economy many are questioning whether buying a house really is better than renting.

"But does owning a home really trump renting? With the economy stumbling, house prices falling, and credit tightening, many housing experts are questioning the conventional wisdom." - Justin Ewers, of usnews.com

With declining home prices, increasing expenses, and greater difficulty in securing mortgages, many people make some valid points in renting over buying a home, when you consider the typical way people pay their mortgages:

• when the housing market slumps, owning a home becomes little more than renting from the bank
• if the down payment was invested in a mutual fund, you might be further ahead financially
• tax breaks of home ownership often are not enough to offset expenses
• home ownership comes with many other expenses - from maintenance to insurance to taxes, none of which build equity
• the average family stays in a house only six years

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