owning is far superior to renting.
Let's face it, saving money can be difficult. What if there was a way to take something you normally have to pay monthly anyway and turn it into an investment? That's homeownership.
When you leave your apartment or rental home, will they pay you back for all the months you've lived there? Is there an understanding that at some point during your relationship, your landlord will stop expecting payments? Probably not. Owning a home can also improve the quality of your life. Below are just a few of the many benefits to homeownership.
When you own, you will be building equity which is like a savings account.
When you rent, you will never get any of your money back.
You only owe a small earnest money deposit at first. Usually, your first payment won't even be due for 30-60 days after you've moved in!
Cost of Entry:
You typically must pay 1st and last month's rent along with security and pet deposits before moving in.
Hope you like how your apartment looks because other than rearranging your furniture, there's nothing you can do about it.
Paint, landscape, remodel and decorate how you like. In fact, improvements you make to your home can even increase your home's value.
If you rent an apartment, you either have to pay extra for a garage or park in a lot. Your car is vulnerable to theft or damage.
With space to spare. Park your car in shelter away from the elements. Bring your groceries in on a rainy day without getting wet!
Privacy and Security:
Enjoy the peace of mind gained by knowing that your neighbor can burn his house down without affecting yours. It'll also be more difficult them to hear and see everything you do.
You and your family's safety is dependent on the actions of up to 4 adjoining neighbors. This makes it difficult to enjoy privacy as well.
Watch as your children make friends that don't move out in a month. Be in total control of how long you live in your home. When your income increases you can always move up, cash in or rent out your house yourself.
Chances are, you're going to get frustrated with the fact that your residence is getting older and your rent is getting higher. If you're renting a house, your landlord can decide at any moment to take their house back.