United Realty Web – Renters
Did you know that owning a home increases your networth 33 times more than a renter? Owning a home has several benefits and making the decision to own versus renting in not always an easy decison. But we believe owning is a better long term financial gain. Here are some key questions to consider.
Most landlords require first and last months rent, plus pet security deposit if needed. This can likely add up to the same or more than a downpayment.
Most mortgages require downpayment, however there are many programs that offer no or low money down options like a VA or FHA loan.
You most likely will not be able to update or personalize your living space, however your landlord is usually responsible for general and structural repairs.
Owning does require maintenance, but with that comes the ability to customize the home the way you like which may boost the homes value.
Landolords usually will not allow you to you personlize rooms other than basic painting.
You will get more felxibilty owning when it comes to children. You can personlize rooms to suit your childs needs from creative shelving to home made bunk beds.
With pets, you might find it more difficult to rent a space that suits your need, especially if you have multiple pets.
Pet security deposits can add up, so buying may be a better option, for that deposit can you used as part of your down payment.