permanent basis; you never need to worry about a notice from the landlord to vacate your rented house or apartment for a variety of reasons over which you have no control.
ADVANTAGES OF RENTING
It seems a shorter list, but one person’s pro is another person’s con, and there certainly are advantages to renting to factor into your buy-or-rent decision. No responsibility for maintenance. Admittedly, this is a big one. As a renter, you’re not responsible for home maintenance or repair costs, as long as you aren't deemed responsible for the needed repairs. If a toilet backs up, a pipe bursts, or an appliance stops working, you don’t have to call an expensive repair person — you just call your landlord or superintendent. Renters in condos, townhouses, or apartments also don’t have lawn and grounds care obligations. Relocating is easier. When renting, relocating for work is easier. Though a sudden move may require you to break your lease, you can partially offset the cost by subletting your apartment or talking with your landlord. If you are breaking your lease due to deployment or PCS, you may not have to pay the remainder of the lease. Make sure to check the fine print of your lease agreement. On the other hand, selling a home takes time and effort. If you have a short timeline to sell your home, you may be forced to accept a lower price and lose some of your investment. No real estate market exposure. Home values fluctuate constantly, occasionally going down for a period of time. If you’re a renter, that’s not your problem. If you’re an owner trying to sell — it is.
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