By, Lisa Roberts
When it is time to move to a new city, it is normal to be full of doubts and questions. You can never really know what is waiting for you - whether your new job will work out, whether you will be able to get used to the city. In addition, you need to deal with the dilemma of renting vs. buying when relocating to a new city. Now, a lot of people have given their opinions on the subject. Some espouse the virtues of renting, and some swear by owning your own home. We are here to chip in on the topic and present why we believe it is better to buy than rent.
You will have stability
Right from the start, you will know you are well and truly home. Signing a lease is all well and good, but there is a real chance that your landlord will ask you to leave as soon as it expires. This can be enormous stress when you are already dealing with a sudden change in place of residence, getting used to a new workplace, and suddenly living on your own if you are a first-time homebuyer. Now, figuring out the financing basics for the first home purchase can be a bit overwhelming. But once you are past that, you will have the home you have always wanted!
You will not have to worry about rules and policies
This is a particularly significant advantage if you are used to living in your own home. Even if you are not, it is still nice to know you do not need to worry about someone’s disapproval costing you the right to continue renting. Not to mention those fond of their pets suddenly finding out that their apartment has a strict no-pets policy! Making that particular choice can be not only heartbreaking but financially frightening. After all, having signed a lease you would have probably paid in advance and suddenly being found in breach of it and under threat of eviction is no small matter. When moving long-distance, problems you don’t expect often crop up, yes. But at least you can avoid having additional ones imposed on you.
It is a bad idea to try and keep a pet if it is forbidden in the rental!
You will not have to worry about rent shifts
Even if you have found the rental of your dreams, with a fantastic location, policies, and who knows what else, there is still the dreaded rent rises to worry about. Often, people have to give up on a place they are renting simply because the price has gotten too large for them to support. On the other hand, if you own your own home, you would at worst have to worry about mortgage payments. And those do not tend to wildly fluctuate! Peace of mind is a hard thing to put a price on.
You will be able to decorate and remodel to your heart’s content
Often, rentals have hard limits on what you can change about them. Even switching out the furniture and shipping the old one back to your landlord can sometimes be unacceptable. And even if they are somewhat more lenient, your landlord would be very unlikely to approve of any remodeling at all. So, if you want to design your own home office, for example, you have no choice but to buy your own place. And such remodels, no matter how small, are often essential to genuinely making a house feel like a home.
You can finally have a place that looks exactly the way you want!
You can start building your own future
Owning a house is not considered a small milestone for nothing. It is the very foundation of building your own life up. Now, we are not saying it is impossible to do so without owning a house. But it does provide security and considerable confidence in being able to provide your family a roof and warm bed no matter what. And that is an excellent bedrock upon which you can expand your ambitions and try to make your mark on the world!
It is much more convenient if you have kids
No matter how easy you try to make your long-distance move and how hard you strive to make it the simplest possible process, it is almost always deeply tiring and stressful. This goes double for kids. Owning your own home would provide a safe and stable environment for them to distress and not have to move again until they decide to make their way into the world. Not to mention the fact that kids are naturally mischievous and quite easily make messes. If your kids accidentally splash paint on a wall while drawing, that might just cost you your deposit in a rental. In your own home, you could laugh it off or ground them for a few days.
You could even make your walls a canvas for your kids to express their talents.
You will not have to depend on others for the upkeep of your place
It is essential to know certain things about a property before buying. The condition of the roof, available amenities, and the score it got during the house inspection. All of these things let you know that your new home is safe and sound. And, if you fully own the place, you would not have to worry about needing to rely on others to keep it that way! As we mentioned before, some landlords can be pretty touchy about any modifications being made to their property. This extends to performing any repairs, as well. You would at the very least have to double-check every decision you make with them. And if they insist on being personally present, you could spend considerable amounts of time before even the simplest problems are fixed.
This concludes our argument for why buying is better when confronted with the choice of renting vs. buying when relocating to a new city. However, you will have to decide for yourself what the best choice for your family is.
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