It’s the age old debate: renting versus buying. Which is better? Which is right for me? In the end it all comes down to preference and personal choice. Neither is the wrong choice and you will find just as many advocates for renting as for buying. Here are some of the great advantages to renting and apartment or house.

Little Financial Burden: When renting, you are usually required to pay first and last month’s rent up front along with a security deposit. After that it is just paying your monthly amount. When you buy a home there are all kinds of fees and a down payment that is needed up front. After that there are property taxes, mortgage payments, insurance premiums, and the list goes on….

Flexibility: Some people just don’t like to settle down in one place. When you rent, your lease typically lasts for one year and even then you can find someone to sublet from you if your lease allows. Buying a home is a pretty permanent step. Once you own a home, you’re there for a good period of time.

Maintenance: When you own your own home, you have to be your own maintenance man or hire someone at your expense. One of the perks of renting is that there are maintenance men on staff so you won’t have to fix that leaking toilet or the clogged sink.

More For You $: There is the possibility with renting that you can live in a luxury apartment for the less than you would have to pay for a modest house. Your apartment could have an amazing view of the city instead of an amazing view of your neighbor’s yard.

Money in the Bank: Without all the expenses of a house, you could potentially have more money to spend, invest or save. The longer you rent, the more time you will have to save for your dream home. 

Brian’s Blog and A Signature Community thank Lauren D. for this article.