If you’re looking to move out of your current residence, you may ask yourself, “Should I rent or buy a house?”
There are pros and cons to owning and renting, and one single person should be taken into consideration when weighing your options: your landlord.
The way a landlord acts can make or break a rental property.
Pro: No maintenance bills.
One of the largest things to figure into a home buying budget is money put aside for maintenance. Many new homeowners will agree that fixes pop up unexpectedly, especially as you first settle into a home.
As time goes homeowners find themselves sinking money into repairs. When you rent a property, that is not your monetary responsibility.
A landlord will foot the bill for things like fixture repairs or plumbing problems.
Con: You aren’t investing in the property.
With maintenance and repairs also comes investment – if you own the property.
By remodeling and making repairs, homeowners are improving the value of their property. Landlords are doing the same, and that does not trickle down to you.
The rent you pay monthly goes straight to your landlord’s investments, not yours personally.
Pro: You have more amenities available to you.
Many rental properties like Apopka apartments come with amenities like gyms, pools, and recreation areas. For homeowners, these perks are often an extra fee to budget for.
These amenities are also maintained by the landlord, so you don’t have to worry about anything but showing up to use them.
Con: Less living stability.
When you own a home, what happens with the property is up to you. You can stay there as long as you choose, and have control over what goes on on the property.
Renters can oftentimes run into troubles regarding the property they live on being sold, thus resulting in their having to move. Your living future is in the hands of your landlord.
Pro: Lower utility costs.
Odds are the space you’re renting is smaller than a full home. With this comes less space to heat and light, and fewer opportunities to run up a water bill.
Many landlords take on some utility costs, such as water.
Con: You can’t make the space your own.
Landlords and lease agreements set forth rules as to what you can and cannot do in a living space. You most often cannot paint, or upgrade appliances.
The space you rent stays largely the same, and its appearance depends upon the type of work the landlord has done on it prior to your moving on, and what they will allow after you begin living there.
Pro: It’s easier to move around.
Moving from rental to rental is a much easier process than leaving a home, both monetarily and emotionally.
The investment in a rental property is not as deep as that of a homeowner’s in their house. There’s no need to find someone else to move into your space once your lease is up, whereas homeowners need to find someone to occupy their property upon leaving it.