Owning Home Vs. Renting

Owning Home Vs. Renting

Pro's and Con's

Okay most people believe owning your own home may be the American Dream, and for some people that may be true but for others it may be best to rent. I have opinions on that. I currently rent my home and really have no interest in ever buying a home as of yet. Owning your home does give you more freedom inside your home then it does with renting but here is my Pro's and Con's list for both.

Pro's to Owning

Pro's - Your own place no one can tell you how to decorate it meaning painting and installing your own stuff.
-Pets you don't need to pay a deposit or worrying about you not being able to keep your pet.

Con's-Something breaks you have to shell out the money to repair it!
-Not being able to easily move whenever you want since you have your money ties up into this home.
-Property taxes...enough said.

Renting

Pro's- No out of pocket expense for repairs.
- Being able to move at end of lease
- No worries about foreclosure
-Sometimes you don't even have to mow your own lawn lol

Con's-Not being able to paint or decorate like you want
-Sometimes doesn't allow pets
-Landlords entering to do inspections and everything

I myself prefer to rent. It is my personal choice and some may disagree. I feel you got to do what is personally best for your family and what works best in your life. Either one is a good option for whatever works best for you! All that really matters at the end of that day is that you have a place to call home whether it is a apartment or house.