Some Pros and Cons of Buying Vs. Renting a Home?

Some Pros and Cons of Buying Vs. Renting a Home?
by

1 Answer

Answer :

Purchasing a home is a large investment. Not all people are ready for the costs associated with buying a home. For some, renting a home may make more sense. Here are some pros and cons to help you make an informed decision. Pros of buying a home vs. renting One of the largest incentives for buying a home vs. renting is the equity that you put into your house. When you buy a home, you have the opportunity to gain a profit on the sale of your home sometime in the future. Hopefully, you would be selling during a robust real estate market, and will be able to sell your house for more money than you paid for it. When you buy a home, you have more options when it comes to painting, adding-on rooms and even renovating to your taste. If you are considering buying a home, be sure to do some prelimi
by
selected by

Related questions

What are the pros and cons of renting a home?

Description : What are the pros and cons of renting a home?

Last Answer : The pros of renting a home, is that you are not tied down to that one residence. The cons of renting a home, is that you'll never own that residence.

The Pros And Cons Of Renting New Commercial Property?

Description : The Pros And Cons Of Renting New Commercial Property?

Last Answer : If you are a business owner and you are thinking about renting anew office, you might be wondering if you should rent an office ina new building or an older building. Here are some of the ... might be a good fit foryou.Build-To-Suit Can Be BeneficialSome new buildings let future renters customi

What are the pros of renting apartments rather than buying a home?

Description : What are the pros of renting apartments rather than buying a home?

Last Answer : One of the biggest pros of renting would have to be that you are not responsible for the cost of maintenance on the property. Additionally, the required deposits are much smaller on rentals than the deposit to purchase a home.

Working mother vs stay-at-home-mom, what are the pros and cons for each?

Description : Working mother vs stay-at-home-mom, what are the pros and cons for each?

Last Answer : I can’t really answer this cause i’m not a mommy.

What are the pros and cons of being pragmatic vs dogmatic?

Description : What are the pros and cons of being pragmatic vs dogmatic?

Last Answer : This question has many parallels to both politics and religion; they're all similar in the sense that people who are dogmatic follow a set of rules (dogma) uncritically that was set down at some ... pragmatist is open to change, unconstrained by the dogma of the past. Obviously I am a pragmatist.

What are the pros and cons between "resigning" from a job, vs being "let go?"?

Description : What are the pros and cons between "resigning" from a job, vs being "let go?"?

Last Answer : Leaving voluntarily is much better on a resume than being let go, which means fired. Then you have to explain why and all that. This way, you can get a letter of recommendation and a good reference.

Standard vs. Automatic, pros cons whats your preference?

Description : Standard vs. Automatic, pros cons whats your preference?

Last Answer : Standard for me, it's much more controlable, you have much more power, it's usually cheaper in US due to the fact that most Americans don't know how to drive stick shifts so the standard ... lower prices getting rid of standards from their lots, etc etc. Oh and Europe drives mostly on standard.

What are the pros and cons of gas vs. electric hedge trimmer models?

Description : What are the pros and cons of gas vs. electric hedge trimmer models?

Last Answer : Gasoline hedge trimmers are advantageous primarily because of their ability to get the job done and is not impaired by the need to work within the confines of an extension cord or the time limits ... gas hedge trimmers are more powerful than their electrical counterparts, and the battle rages on...

I would like to know the pros and cons of a fiberglass pool vs a concrete pool. Can you give me an idea of price of a fiberglass pool vs concrete Oval shape does not need to be lap size. Also, most energy & chemical efficient pool w/out spending alot ?

Description : I would like to know the pros and cons of a fiberglass pool vs a concrete pool. Can you give me an idea of price of a fiberglass pool vs concrete Oval shape does not need to be lap size. Also, most energy & chemical efficient pool w/out spending alot ?

Last Answer : the cost for fiberglass pools are chaeper and easier to install.concrete pools are easier to maintain.a fiberglass pool may run you 3,000 to 10,000. A concrete pool run you 12,000 to 30,000 depending on the size and area of residence

Can you share a few pros & cons of buying a tablet?

Description : Can you share a few pros & cons of buying a tablet?

Last Answer : I do not own a tablet but own a “Smartphone” with a keyboard that slides out. The tablet has a touch screen keyboard, I personally have a hard time with touchscreens.

When buying a used car, what are the pros and cons of buying directly from another person versus a dealership?

Description : When buying a used car, what are the pros and cons of buying directly from another person versus a dealership?

Last Answer : Ask lots of questions, and never feel like you are asking too many. If they shy away from the deal because you are too nosy , stay away from the car. Buying outright from another car owner has it's ... other questions that aren't coming to my mind just yet, but I'm sure someone else will chip in.

Is a rent to own home usually costlier than just renting or buying?

Description : Is a rent to own home usually costlier than just renting or buying?

Last Answer : Renting to own items, or even a home, make a huge profit for the renting conpany. This means that you are paying far more for them than if you purchased them outright.

my husband and I just got married and are tired of renting. We would rather spend the money on buying a home but can't get a loan. We ARE first time home buyers and I am trying to establish credit and his is not that good. Please help!!?

Description : my husband and I just got married and are tired of renting. We would rather spend the money on buying a home but can't get a loan. We ARE first time home buyers and I am trying to establish credit and his is not that good. Please help!!?

Last Answer : Since the recent changes in the mortgage industry a lot of subprime lenders have gone out of business, but there is still hope for you. If you find a house you love you can talk to the owner and see ... like that.inform me if there is an easier way to buy a house without credit, being such an option

What best describes why renting a place live is generally cheaper than buying a home?

Description : What best describes why renting a place live is generally cheaper than buying a home?

Last Answer : Renters don't own anything as a result of their payments, while homeowners do

What are the biggest pros/cons of home ownership?

Description : What are the biggest pros/cons of home ownership?

Last Answer : I Love home ownership. I do not like the upkeep, especially the yard, but it’s all well worth it. Then you have insurance premiums to deal with. Looking forward to others’ replies.

Can anyone share pros & cons based on experiences in running a home-based Day Care?

Description : Can anyone share pros & cons based on experiences in running a home-based Day Care?

Last Answer : Start with what happens when you are watching a kid and they break a leg on your stairs. I would talk to a lawyer first.

What are the pros and cons of using a home-based daycare over a commercial daycare center?

Description : What are the pros and cons of using a home-based daycare over a commercial daycare center?

Last Answer : Congrats! :) The greatest factor in day care quality is not where it's located, but the people who run it and how they do so. Either type of daycare can be excellent or terrible. Make sure ... any care provider worth their salt will answer a zillion questions as many times as you need to ask them.

What are the pro's and con's of installing a home security system?

Description : What are the pro's and con's of installing a home security system?

Last Answer : Aside from the cost of getting it installed, i cant really see any cons except it being a pain always having to type in the code.But im sure you'll deal with that knowing you have security. I say ... that you never end up having to use, but you wouldnt exactly call that a bad thing now would you?

What are the pros and cons of using exterior cedar wood siding on a home?

Description : What are the pros and cons of using exterior cedar wood siding on a home?

Last Answer : Cedar wood siding adds rustic appeal to your home and is a renewable, biodegradable choice for the environmentally conscious. The downside of this natural product is that it is susceptible to decay and needs regular painting or staining.

Carpet cleaning services vs. renting machine?

Description : Carpet cleaning services vs. renting machine?

Last Answer : What’s the price difference? I’ve rented the machine before, it was super easy.

What is the cost comparison between renting and buying a small chocolate fountain?

Description : What is the cost comparison between renting and buying a small chocolate fountain?

Last Answer : The cost and comparison between renting and buying a small chocolate fountain is about the same, to rent a small fountain can be $30 plus the cost of the chocolate packs, and to buy a small fountain can range from $45-$70

Which of these is a disadvantage of buying a house instead of renting?

Description : Which of these is a disadvantage of buying a house instead of renting?

Last Answer : Homeowners must pay for repairs themselves

Which of the following link building tactics do search engines tacitly endorse?  A. Viral Content Creation & Promotion  B.Reciprocal Link Exchange Programs  C.Buying Links From Link Brokers & Networks  D.Renting Pages From Trustworthy Domains And Placing Links On Them

Description : Which of the following link building tactics do search engines tacitly endorse?  A. Viral Content Creation & Promotion  B.Reciprocal Link Exchange Programs  C.Buying Links From Link Brokers & Networks  D.Renting Pages From Trustworthy Domains And Placing Links On Them

Last Answer : A. Viral Content Creation & Promotion

What are some of the pros and cons of living in a townhouse?

Description : What are some of the pros and cons of living in a townhouse?

Last Answer : I would love the idea of someone else clearing the driveway and keeping the grounds up. Mostly, though, I probably wouldn’t like it much. I am loud, my dog is loud. I like having my own yard for a garden and the dog.

What do you think are some of the pros and cons of computerized testing?

Description : What do you think are some of the pros and cons of computerized testing?

Last Answer : answer:Sounds like spam to me. Anyways, not really any cons once it's set up, it's faster, more efficient, and you don't need to pay someone to go over the tests to check the answer. It's like the ... you fill in dots and a machine just checks it and grades it. (what's the name for that again?)

Mac users what are some pros and cons of the new Final Cut Pro X?

Description : Mac users what are some pros and cons of the new Final Cut Pro X?

Last Answer : I’ve never used it and it takes up a lot of space in my hard drive. I might delete it actually, iMovie does what I need.

What are some pros and cons on lady in the middle ages?

Description : What are some pros and cons on lady in the middle ages?

Last Answer : What is the answer ?

What are some of the pros and cons of using wooden outdoor chairs versus metal ones?

Description : What are some of the pros and cons of using wooden outdoor chairs versus metal ones?

Last Answer : Wooden chairs will look better, but not wear as well and if not sanded well can give you or your guests nasty splinters.

What are some VoIP pro's and con's?

Description : What are some VoIP pro's and con's?

Last Answer : Reliability is much better. If the power goes out, your IP Phones do not since they typically are connected to routers/servers or another locally generate power source. Some broadband connections may ... -phone, calls can only be placed from the computer on which the soft-phone software resides.

What are some pros and cons of auto insurance america?

Description : What are some pros and cons of auto insurance america?

Last Answer : Auto Insurance America is a little more expensive of an option than other nationwide insurance companies. Companies like Progressive Insurance, and Geico have better offers.

What are some pros and cons about the Kodak dx6490 camera?

Description : What are some pros and cons about the Kodak dx6490 camera?

Last Answer : It has great zooming capabilities, up to 10x and you can even print out pictures all the way up to sizes 20"x30". If I were going to purchase a camera this one would be great since it has quite a few great options and its very easy to use.

What are pros and cons to pet insurance?

Description : What are pros and cons to pet insurance?

Last Answer : There are pros and cons to pet insurance. Pet insurance can help you pay for veterinary care if your pet gets sick or injured. However, pet insurance can be expensive and it may not cover all of your costs.

Immigrants/expats/new arrivals/people! Whatever we use to refer to ourselves… What are the pros and cons of living in the country you find yourself in?

Description : Immigrants/expats/new arrivals/people! Whatever we use to refer to ourselves… What are the pros and cons of living in the country you find yourself in?

Last Answer : It’s so cold my hair snaps off if it’s wet outside

What are the pros and cons of getting a life insurance in the US?

Description : What are the pros and cons of getting a life insurance in the US?

Last Answer : New York Life has a whole life policy. DO NOT get term insurance! Life insurance is good if you have family or someone to leave the money to. So if you're single and have no one to ... insurance. But do get funeral insurance. You can get that through a funeral home that will handle your affairs.

What are the pros and cons of having a Democratic and capitalistic country?

Description : What are the pros and cons of having a Democratic and capitalistic country?

Last Answer : The first thing Americans must understand is that the term capitalist democracy is in fact equivalent to dry water. Americans must purge themselves of the idea that it is merely the right to vote or ... and capitalism. If you would rather not believe it, you need merely look at the results.

What are the pros and cons of an adult trying an energy drink?

Description : What are the pros and cons of an adult trying an energy drink?

Last Answer : Pros: An energy boost. B vitamins which can improve your mood. Cons: You crash quickly. It's not good for you. Often, the taste isn't good. Caffeine is addictive. Can keep you up when you don't want ... drink plenty of water and don't drink it too late in the day or it could keep you up all night.

Will you think about the pros and cons before confronting your spouse?

Description : Will you think about the pros and cons before confronting your spouse?

Last Answer : This is the sort of thing that responsible people talk about before having children. So if this is how you discover your spouse’s approach to discipline, you’ve already messed up pretty badly.

If you have an e-reader or kindle, can you give me the pros and cons over just reading a book?

Description : If you have an e-reader or kindle, can you give me the pros and cons over just reading a book?

Last Answer : I have a nook, and I love it. The features that are common to both nook and kindle (I'm pretty sure) that I like: Adjustable font size. At night when I'm tired, the ability to have a ... sites where you can get good titles very inexpensively, like Bookbub.com. It's just easier all around for me.

What are the pros and cons of using air mattress?

Description : What are the pros and cons of using air mattress?

Last Answer : If your in it with your spouse and one of you are prone to rolling in your sleep like I am you can tend to launch your partner off it during the night. As a spare guest bed they are not bad, as your main bed I would look for other options.

What are the pros and cons of working in a product based company?

Description : What are the pros and cons of working in a product based company?

Last Answer : Nothing inherently wrong.with a product based company. But not all companies are the same. Microsoft or Google or Adobe have dozens of products, so if one falls out of favor or gets competition, they ... If their software gets competition, they may fail. So the real answer has to be it depends

What are the pros and cons of net neutrality?

Description : What are the pros and cons of net neutrality?

Last Answer : If you aren’t Comcast, Verizon, Centurylink, Cox, Charter there are no downsides. I would argue that internet needs to be classified as a utility like electricity is. My electricity is cheap and works 99.999% Comcast can’t say the same.

What do you think are the pros and cons of being extremely analytical?

Description : What do you think are the pros and cons of being extremely analytical?

Last Answer : Yes, you end up not deciding on anything, finding fault with everything and doubting everything. You never move on.

Pros and cons of adopting an old dog?

Description : Pros and cons of adopting an old dog?

Last Answer : I would hesitate. Why would anyone dump an 11 year old dog at the shelter? Did it bite someone? Was it getting aggressive?

What are the pros and cons of foam roofing?

Description : What are the pros and cons of foam roofing?

Last Answer : answer:From what I understand, the reliability of the roof is totally dependent on the reliability of the company/person that installs it. Requires periodic re-application. A nightmare to remove. I went with membrane for a ... fo far, so good, but it's only been a year or two. and a small surface.

Are video resumes the best way to standout from competition with job opportunities? What are the pros/cons to this approach?

Description : Are video resumes the best way to standout from competition with job opportunities? What are the pros/cons to this approach?

Last Answer : One benefit would be the potential employers would not see your lack of proper capitalization, or use of “is” instead of “are”.

What are the pros and cons of keeping winter tires all year long?

Description : What are the pros and cons of keeping winter tires all year long?

Last Answer : Winter tires are a little noisier and produce a slightly rougher ride. You can detect a slight buzzing in the steering wheel. They wear a little faster and have slightly poorer handling on dry pavement . But, honestly, most people can’t tell the difference.

What are the pros and cons of cheap US produced oil?

Description : What are the pros and cons of cheap US produced oil?

Last Answer : answer: But in the long run are we damaging the earth more by extracting shale oil? Do you really need to ask this question? Water is more valuable than oil; fracking is poisoning the truly very little ... . This is a no-brainer. Who says gas should be cheap? It isn't elsewhere in the world.

What are the pros and cons of self-examination?

Description : What are the pros and cons of self-examination?

Last Answer : Understanding one's understanding (that is recognizing how one has acquired their understanding of whatever they think they understand) enables them to filter out the inculcated beliefs that have little or no ... to focus on what they are looking for, which will likely exclude what can be known.

Medicating with your kid(s) with medical marijuana, what are the pros and cons?

Description : Medicating with your kid(s) with medical marijuana, what are the pros and cons?

Last Answer : Fox_News. You are making shit up and short skirts doesn’t mean you want to be raped.

What are the pros and cons about the smart phone/s you know the most about?

Description : What are the pros and cons about the smart phone/s you know the most about?

Last Answer : Maybe just the con, if you find it is too much under the pro.