Differences Between Renting and Owning

Differences Between Renting and Owning

Owning a home is one of the biggest investments most of us will ever make! This may explain why so many people are more comfortable renting a house as opposed to owning one. What people may or may not realize about renting compared to owning, is that renting is extremely limiting and lacks room for growth.

Renting provides you with a huge lack of stability and security. Throughout my 31 years in real estate, I have seen and heard: ”My landlord is selling the house I have lived in for years and I have to move now”… “My lease is ending and my landlord is not renewing it”. Unfortunately, in a renting situation you have limited control over your future and could be required to move out upon your landlord’s discretion instead of your own. This is where owning a home is well worth the temporary sacrifices to get you there. YOU have more control over your future, and YOU get to make the decision! Yes, there are responsibilities… but there are also HUGE benefits. Equity / Stability / Decisions / Pride / Investment, all of these and more come along with those responsibilities, and it is well worth it! Compared to the average cost of owning verses renting, you are not only saving money, but you are MAKING MONEY in the long run.

While renting, you are throwing your money away. Instead of earning equity, you are wasting precious time, effort, and money on someone else’s real estate. Owning allows you to build equity and spend your time, effort, and money on a property that you can see... and make a safe and secure place for your family! No cost should be worth NOT giving that to them and you.