Whenever you finally make the decision to move to your own space, you have to decide whether you want to rent or go into home ownership. There are pros and cons to both options and it comes down to a personal choice and/or finances.
Some rentals will include some or all of the utilities. There is usually your own parking space within easy access to where you’re going to be living. You don’t have to worry about maintenance or mowing the lawn. Garbage is usually just a dumpster away. A lot of apartment buildings now have laundry facilities. Some even have gyms and swimming pools the tenants have use of with hours that are reasonable for tenants to come and go. You usually have a lease, so if you don’t like it you can move when it’s up.
However, the down size to renting is that since the place isn’t your own, you have to follow the regulations of where to put each and every nail. You can’t change the color of paint unless it’s approved by the management. Some apartment complexes only paint every two years and it’s always the same eggshell or off white. You are responsible for any damages that happen to the unit as long as you live there and it would be deducted from your security deposit if you move out. You also have no control of who is living beside you, on top of you or beside you. A noisy inconsiderate neighbor can be a nightmare! The rent can be raised without your approval and you’re stuck until your lease runs out. The landlord can sell the building with you in it and then you have to deal with the new owners. You may have an intense background check and credit check run on you.
Owning your own home also has it’s ups and downs. On the upside, you have the freedom to do what you please. You want to hang a painting with a 6 inch nail? Go for it! You want to paint the kitchen yellow with green polka dots, no one can say anything. There isn’t anyone over your head or under you that you don’t want. You want to own pets? Have four!You are usually more picky about the neighborhood if you're looking at a long term investment. Plus, depending on the housing market if you go to sell your house, you can usually get out plus more of what you put into it.
However, you are responsible for how high your grass can grow and unsightly refuse in your yard. You pay taxes on your property that can go up when the township raises them. The roof can leak and the water pipes can burst sprouting a geyser in your kitchen. There isn't maintenance to call when that happens, it’s all up to you. It can be a dream or it can be a nightmare.
So you see, there are both sides to the renting vs. owning question. What it basically comes down to is what you want and what you can afford!
However, the down size to renting is that since the place isn’t your own, you have to follow the regulations of where to put each and every nail. You can’t change the color of paint unless it’s approved by the management. Some apartment complexes only paint every two years and it’s always the same eggshell or off white. You are responsible for any damages that happen to the unit as long as you live there and it would be deducted from your security deposit if you move out. You also have no control of who is living beside you, on top of you or beside you. A noisy inconsiderate neighbor can be a nightmare! The rent can be raised without your approval and you’re stuck until your lease runs out. The landlord can sell the building with you in it and then you have to deal with the new owners. You may have an intense background check and credit check run on you.
Owning your own home also has it’s ups and downs. On the upside, you have the freedom to do what you please. You want to hang a painting with a 6 inch nail? Go for it! You want to paint the kitchen yellow with green polka dots, no one can say anything. There isn’t anyone over your head or under you that you don’t want. You want to own pets? Have four!You are usually more picky about the neighborhood if you're looking at a long term investment. Plus, depending on the housing market if you go to sell your house, you can usually get out plus more of what you put into it.
However, you are responsible for how high your grass can grow and unsightly refuse in your yard. You pay taxes on your property that can go up when the township raises them. The roof can leak and the water pipes can burst sprouting a geyser in your kitchen. There isn't maintenance to call when that happens, it’s all up to you. It can be a dream or it can be a nightmare.
So you see, there are both sides to the renting vs. owning question. What it basically comes down to is what you want and what you can afford!
By: Linda Lee Ruzicka
Linda Lee Ruzicka lives in the mountains of Western PA , happily married and with her 8 cats and three dogs. She has been published in Twilight Times, Dark Krypt, Fables, Writing Village, June Cotner anthology, The Grit, Reminisce , the book, Haunted Encounters: Friends and Family. She also does freelance work for Nexxt, for RealEstateJobSite.com and RealEstateJobSiteBlog
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