To Buy Or Not To Buy, That Is The Question

By:Ricardo d Argence

When anyone is going to either rent or buy a home, it is not a question to flip a coin over. There are many considerations to evaluate.

Your finances versus the market is just one of several points to consider when looking over your determination of weather to rent, or buy.

At any given time, a new wave of newbies that have never owned a home before begin a search for their dream home. Their dream home may be a small older colonial, or a brand new quad level hybrid in a brand new subdivision.

Whatever the dream home being considered, there is always present the option to keep renting until a later time in the future.

What is considered between these two options always distills down to financing. What can be expected to pay buying a home instead of renting.

In a nutshell, this always will be the main determining factor between the two.

There are several optional points when considering buying a house. Buying a house will put you into a more permanent community, than a rented complex.

This essentially means that you are a part of the larger consciousness. Communities are collectives.

Being a good neighbor, owning a home in a home full of other homeowners is a standard to live up to. It is a given assumption that you will ensure that your yard is mowed and the landscaping is sculpted to conform to neighborhood standards.

No one is going to come to your new house and give you a set of rules to abide by. It is assumed by your neighbors that you will conform. This means that you will either be doing this outside maintenance yourself, or paying out to have it contracted for you.

This ideal does leave you a lot of freedom to landscape and plant almost anything you desire. You are encouraged to express your personal tastes. You are free to be an artist in the neighborhood gallery.

As long as you are not an abstract artist that loves to copy Jackson Pollack's masterpieces, you are safe. Conformity standards are more of a higher priority than a rented community.

With a rental, you do not have to be concerned about outside appearances of your abode. This is all taken care of for you. In fact, you probably do not have a choice in this matter.

Often times, you do not have a choice of the inside colors of your rooms either. These decisions are not in your hands. You are renting. The management company, or owner has made these decisions for you.

When you pay rent, you need to come up with the first and last month's rent as part of a deposit agreement. In most cases, you sign a lease to stay for a determined amount of time, move in and leave the rest to the owners. They provide the maintenance for you as part of the leasing agreement.

When you rent a home or apartment and your garbage disposal, or toilet breaks down, the management company, or landlord ensures it's repaired.

When you own a home and something breaks down, it is up to you to get it fixed and pay for the parts and service.

Renting a home will take a lot of responsibility for the upkeep out of your hands. Owning a home places these responsibilities directly on the homeowner.

Yet, owning a home does give you more of a sense of stability. The home is yours. You invest the effort and you get the return for your investment.

Owning a home gives the homeowner a true sense of ownership. Your domain is truly your own. With renting, this feeling and security is at best a temporary fix, a band-aid on a temporary situation that, ultimately, you have no real control over.

The rent can go up, then you have to pay it, or move out. You can also become evicted. These decisions are out of your hands when you are a renter.

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