Housing Cost Control
When your current lease ends, your landlord will probably raise your rent. Does the new rent fit your expected housing costs? If not, you will be left planning your next move with short notice. A fixed rate mortgage payment may never change, while the ever-rising rent will continue its ascent. [see Top 5 Financial Reasons To Buy Now]
If you rent, you can be told to move at any time, as property ownership or assigned use can change at the whim of your landlord. Once again, you could be making an unplanned move in short order. Wouldn’t you like to be in control of where you live, and for how long?
Family Wealth Security
A rented space cannot be imparted to your descendants. The idea of Home carries a wealth of memories for friends and family, and renters miss the opportunity to leave their home and its legacy for loved ones. It also gives them the above benefits, or leverage for other uses or needs.
Whether you rent or buy, it’s a guarantee that things are going to break. As a renter, you’re at the mercy of property management or your landlord because you don’t have the luxury of managing your own timely home repairs. If you’ve ever been made to wait for repairs, you may have thought you would be better off if you were allowed to handle the job yourself. In your own home, you can act immediately, and upgrade, if that’s what you want. Hiring a professional to make repairs, asking a friend, or even fixing it yourself are all available options.
No more cold showers while the maintenance man is on vacation. It’s in your hands now.