approval process and be able to pay their monthly rent.
3. Relocation Inflexibility: Once you’ve purchased a home, it becomes trickier (and a lengthier, more complicated process) to sell and move than it is to break a rental lease. You need to prepare your home for showings, remove all your clutter and start packing, find a new place to live while putting your home on the market for a hopefully quick sale, and deal with potential issues like paying the mortgage while waiting for your home to sell. Renter advantage: Depending on the situation and contract you have with the landlord, moving — whether for work, travel, or family obligations — simply requires giving sufficient notice so you won’t be penalized. If you need to relocate before your lease is up, you also have the option of subletting to another tenant to cover your rent and offset that cost. Selling a home within a short time frame is usually much more complicated, time-consuming, and risky. 4. Potential financial loss. I’ve mentioned before that homeownership builds equity over time; however, equity doesn’t necessarily equal profit. Some homes do depreciate in value over time, putting you at risk of a loss when you sell your home. Renter advantage: As a renter, you don’t need to worry about the housing market and whether home values in your area are fluctuating, remaining stagnant, or decreasing. It’s not your problem, but for a homeowner who’s trying to sell, it is. Now that you have read and understand the main advantages and disadvantages of buying vs. renting a home, you are better equipped to make a decision. There is much to consider when deciding to buy a home. But where to start?
I suggest that you start by making a pros and cons list of buying
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