Renting Vs. Buying: The Pros and Cons

Renting

Is renting or buying right for you? Find out the pros and cons of each.

If you’re trying to decide between renting or buying a home or apartment, there are a lot of factors to consider. Both renting and buying a home come with their pros and cons. It’s all a matter of what works best for you and your family. If you’re unsure of whether or not you want to buy or rent your home, read on below to find out the biggest pros and cons of renting versus buying your home.

Maintenance

If you rent your home, you don’t have to worry about too much maintenance. This means that if your shower stop working or your toilet begins to flood, you can simply call your landlord or leasing agent and have someone come out to fix whatever issues there may be. This is in contrast to when you own your own place, where you need to either brush up on your DIY skills or spend money out of your own pocket on a contractor. Not having to worry about maintenance is a huge reason a lot of younger people tend to be more interested in renting.

Costs

Buying a home is going to have more upfront costs, whereas it will cost less over time. You’ll need at least 3.5% of the homes initial purchase cost when you first buy your home, which can be a big chunk of money for some people. You’ll also need to pay real estate taxes, insurance, and maybe even HOA dues. That said, mortgage payments are generally less than rent payments, though not by much.

Freedom

Both options offer freedom in different ways. When renting, you have the option to easily uproot yourself and move wherever you’d like. You’re not stuck with committing to one home for too long. You’ll enjoy the massive benefits of being able to move if you so desire. Buying a home, on the other hand, lets you have more freedom with how you use your space. You won’t have to worry about whether or not it’s okay to own pets or paint certain walls; it’s your home to do with what you please.

The Apartments of Wildewood have a friendly community that’s waiting to welcome you!

At The Apartments of Wildewood, located in beautiful in St. Mary’s Maryland, we offer homes with access to pools, an on-site gym, and maintenance whenever you need it – and have access to all the information you need to affordably rent an apartment in St. Mary’s. To set up an appointment to check out an apartment or townhouse rental from The Apartments at Wildewood, call us at 301.737.0737 or visit the website!

For more about renting with The Apartments of Wildewood, check out our Facebook, Twitter, Pinterest, Google+,or LinkedIn.

This entry was posted on Friday, July 7th, 2017 at 1:25 pm . Both comments and pings are currently closed.

Comments are closed.

Get Connected