Renting Vs Renting

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The advantages when renting versus owning a house first is that there is no long term commitment for the renter. The renter may move else where after the lease expires if that is their choice. There are limited repair responsibility from the renter. The owner or landlord must provide these services according to the lease and the legal system.

The renter pays only for leasing the apartment, not for taxes or any other type of insurance if they do choose to. These are the advantages of renting verses owning.

If the renter chooses to move after the lease is up, they do not have to go through the process of selling the property by hiring a Real Estate agent, or by advertisement cost if selling it themselves. They just search for another location that offers them all the benefits they are seeking and move. …show more content…
All the money paid by renting will be lost and not produce any future income. Renting creates limitations such as having pets, smoking or even who and when you can entertain without disrupting or annoying your neighbors. Also if you want to change, add or remove any features of the living space you might not be able to do so. Renting disadvantage is also rent increase every time your lease is up.

Advantages of owning your home are many that can create wealth and freedom for some home owners. Equity creates value and stores future income for the owner of the property. Owning a home create a better lifestyle depending the neighborhood and the type of area or location you purchase the home at. Owning a home gives the owner the freedom of renovating or decorating their home as they see fit unless it is on a deed restricted community which limits changes to the structure such as paint color and other desire owner

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