Do you wish to payyourself, or a landlord? While, perhaps, in another reality, we may be able, to answer this only, however, there are situations, considerations, etc, which might make this, somewhat complex, and/ or, complicated! With that in mind, this article will attempt to, briefly, consider, analyze, review, and discuss, both, the advantages of owning, a house, of one’s own, however, in addition, certain occasions, and conditions, when, renting, could be, in somebody’s, personal, self – interest.
1. When renting makes the most sense? This might be a short – term situation, or a longer – term, one, and it’s wise, for somebody, to constantly, proceed, using a customized plan, and focus, on their plan, into the future. Others are better served, by renting, because, they are new, to the area, and are not sure, where they would like to live, etc.. Leasing provides them, with the short – duration, flexibility, to do, what is best, for them, and to proceed, with judgment, and realistic focus, etc.. Others fear the responsibilities and necessities, of home ownership, including, maintenance, repairs, and unanticipated expenses, etc.. Before purchasing a house, a wise, qualified, potential home buyer, must understand his personal needs, anxieties, and whether, he is willing to expand the limits of his self – enforced, comfort zone!
2. Benefits of buying: Making the choice, to buy a house, is among the most important ones, we create. Instead of moving, in a haphazard way, it is necessary to strategically, prepare, with a well – formulated, personal approach! Are you ready to be a homeowner? Are you disciplined, sufficient, to commit, to creating the fiscal reserves, for the necessary, down – payment, unforeseen contingencies (such as job disturbance, financial reverses, etc), and independent, realistic reserves for repairs, renovations, updates, appliance repair/ replacement, fixed costs (such as utilities, mortgage payments), etc? Will you check your credit file, and make the perfect alterations / repairs, to improve your potential, to qualify for a mortgage? When you rent, you pay your landlord, however, when you have, you construct significant equity, for your own, best interests!
Buying, versus renting, is a significant personal decision, and action! Are you going to create a meaningful, quality choice, which functions your self – interest, etc?