typical rent amounts.
6. Creative freedom. One major advantage to owning your home is that you have creative license to make almost any kinds of changes or improvements that you’d like, provided they don’t violate codes or bylaws. Change the colors of the walls with fresh paint, finish a basement, add a closet, expand your bathroom, build a deck, renovate your background — you have the freedom to make your home truly yours with homeownership. Renter disadvantage: Renting a home puts many more limitations on what you can do — if anything — to change or improve the look of your home. Structural and even decorative improvement decisions belong to the property owner and you’ll need to obtain special permission to make any changes, even painting. 7. Community and roots. Homeowners generally stay in their homes longer than renters do (many tend to think of homeownership as more permanent and renting as temporary), and are therefore more likely to get to know their neighbors, feel a part of a community, join associations or committees, host get- togethers, and volunteer. Renter disadvantage: Renters are much less likely to do these things, as they often view their situation as temporary.
DISADVANTAGES OF BUYING A HOME
Yes, there are downsides to homeownership — some that buyers aren’t aware of, or don’t think of, and others that can scare people away from making the plunge into homeownership.
1. Maintenance. Perhaps the homeowner’s biggest disadvantage
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