Pros and Cons of Renting a House vs Owning a House

Are you considering moving into a house? When looking for a house, one of the first decisions you have to make is whether you want to buy or rent it. There are many different benefits to both options, and really the best choice just comes down to your preference. Read below for a breakdown between the benefits of renting a home and the advantages of owning a home.

Benefits of Renting a Home

• More temporary: One of the biggest benefits to renting a home over buying is that renting is more temporary. If something in your life isn’t set in stone, whether it’s if you will be moving in a few years for a job or how well you like the location, renting may be the better option for you. While most lease rentals rent on a yearly basis, you may be able to find some that rent monthly.
• Less responsibility: When something goes wrong in a house you own, the cost of getting it repaired or fixed falls on you. In a rental, you can simply call your landlord and tell them about the problem, and generally as long as it isn’t from damage you caused, the expense falls on them.
• Lower payment upfront: When you rent a house, you likely have to put a deposit down that will be used to cover any damages the house ensues. This deposit is much cheaper than a down payment on a home, which makes renting a smaller investment upfront.

Advantages of Owning a Home

• Feel more established: When you buy a home, you put down roots in that community. If you are unsure if you’ll be living in the area in the next couple of years, you are less likely to get to know the area and community. When you own the home, you are more likely to want to settle into the area and feel more established.
• More freedom: When you own a house, you are able to make all of the decisions regarding your house yourself. For example, if you want to repaint the bathroom, or knock down one of the kitchen walls to extend the living room, you can.
• Less expensive over time: While buying a house is more expensive initially, it really is cheaper in the long run. Not only are there many tax benefits to owning a home, rent prices are also always on the rise. Additionally, once your mortgage is paid off, you’re able to stop making payments on the house.

Find Self Storage is Your Household Storage Solution!

Whether you choose to rent or buy, there never seems to be enough storage space in a home. One way to easily increase storage space is to reserve a storage unit rental to store out of season clothing and decorations, unneeded furniture or any other items that aren’t used as often.

Find Self Storage has storage facilities in Dallas, TX, Carrollton, TX, Plano, TX, Leesville, LA and Alexandria, LA on Windermere Blvd and Lodi Rd. We have many different sized storage units available in both climate controlled and traditional options. Reserve a storage unit with Find Self Storage today!