A large number of people have a dream of owning a beautiful house that is rightfully theirs, and does not bear the hassles of monthly rentals and constant policy renewals. However, here is another point of view that may help you appreciate the advantages of homes for rent.
by nan palmero
Some circumstances clearly make it more beneficial for you to stay in rental houses instead of buying a house of your own, like:
1) When you are going to have a short term stay
By short term, we mean, a stay of less than five years. So if your work requires you to keep moving cities and therefore homes, it is a more practical choice to rent homes than buy a home which you may eventually have to sell off sooner than the ideal span of time.
2) When you view the home as an investment
While some people may consider buying a house as an investment, it does not really pay off very well all the time, as buying a house needs a great deal of initial investment, and if you sell it too soon your returns might not be good enough. Moreover, if you are thinking of renting the house when you no longer need to use it, keep in mind the additional responsibilities and paperwork formalities associated with it. So consider other investment options and weigh them against being a home owner.
3) When you are likely to incur high costs of home improvement
Buying a house of your own is only the beginning of the money spending spree. The real expenditure begins when you commence with the maintenance work. With rising prices of home essentials like furnishing products and all wood work involved, compounded by the significant chunks of time it requires, home improvement has become a daunting chore. So if you are not really the interior decoration aficionado, the safe bet for you is to consider some decent rental homes. Houses for rent offer the appreciable benefit of having your landlord bear the responsibility of fixing basic faults like leaks or electrical problems.
Be calculative while deciding whether to go in for rental house or home ownership as the wrong decision can drain you of your savings or make you incur monetary losses in the long run.