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Renting Versus Buying a Home

Renting Versus Buying a Home

Home & Garden
Renting versus buying a home is a decision most have to make at some point during their life time. Below are some comparisons and differences: Benefits of Renting a Home Generally accepted benefits of renting a home include a much cheaper monthly rent payment than a mortgage payment, shorter-term lease options, and not having to worry about making repairs to the home or appliances. Typically, in order to rent a home, a prospective renter must sign a lease, or contract in which the renter and land lord agree on certain ground rules, including when rent payment is due and whether pets are allowed. In order to move into a rental home, usually the first month's rent and a security deposit is required. The security deposit is often the same price as a month's rent. Renting a home u...