To buy or to rent – that is the question. Let’s face it, moving is one of the biggest decisions we can make, let alone trying to decide if renting or buying is more appropriate for our needs. So how does one decide? For some the answer is clear but for those of you still in buying/renting limbo – we wanted to round up the pros and cons of each:
Responsibility for Maintenance. From cutting the lawn to inspecting damage, there are a handful of responsibilities for homeowners. Renting a home means little or no responsibility for maintenance. Owning a home comes with being accountable for indoor and outdoor maintenance.
Styling and Landscaping. One of the upsides to owning a home is the ability to decorate to your desired look. Some landlords may not allow the flexibility of painting the room a rich hue or planting your favorite tree in the yard.
Moving. We can’t deny the facts – it’s easier to move from one home to another when you’re not a homeowner. One downside to buying a home is the lack of mobility. Of course it’s doable, but there’s is more effort involved.
Equity. There’s a major difference between buying and renting when it comes to finances. When you rent, you should expect that equity will not build up, no matter how long you stay. When you buy a home, you’re more likely to see that the value builds up overtime.
As you can see, there are a number of pros and cons whether you’re looking to rent a home or purchase one. You need to decide on your current needs – what your lifestyle looks like at the moment. Once you’ve made that decision, contact Leslie Clarke Homes!
Leslie Clarke Homes is a team of experienced professionals with over 20+ years of sales experience and excellent client communication skills. Call us today at 203.984.1856 or visit our website for more information.