Renting vs. Home ownership

Introduction

Buying a home is a wonderful thing for those who have a family or those who just want to stay in one location for a very long time. However, some of us move around quite a bit and/or change jobs every few years, so being saddled with a mortgage would not be a viable option. Do you really want to buy a house and then go through the hassle of moving if a job does work out? Imagine the costs of having to move or deciding to rent or sell your house while before relocating. Some people are not even able to sell their houses and have to relocate anyway, which puts a considerable burden upon an already strained family. Think of the expenses involved with moving a large house full of furniture can become costly than moving a small amount of furniture from an apartment. With the high mortgages payments and the subprime lending crisis, many people have decided renting is an easier and cheaper option. This hub will discuss five reasons why renting may be a good option right now.

Compare and Contrast

Be freer to move.

You will have no huge long-term financial investment and commitment to consider, so when you need or want to leave, you can do so.

Renting provides an enormous amount of flexibility, enabling you to decide on a year-by-year basis whether to renew your housing situation.

Moving from a house involves enormous planning and costs, such as the thousands of dollars paid in commission to real estate brokers.

There is no waiting to sell, and no agonizing about the housing market at the moment you need to sell.

You can't place a price tag on the freedom and mobility available to you to pick up and leave when the need arises.

The simple binds of renting are ...