While buying a home is a big step and has its benefits, renting can be just as, if not more, sweet of a deal. So, if you’re struggling to decide whether or not you should continue to rent, here are four indications that will help make that decision easier for you.
- YOU AREN’T READY TO BUY YET
Some people buy a home because they think that’s what they’re supposed to do. The biggest reason to stick to renting is if you don’t feel ready to buy yet. If you want to rent, then rent. Nowhere does it say people have to follow a specific path. There are a lot of people who are deciding to keep on renting instead of jumping into homeownership. Until you’re ready to take on all the responsibilities and costs of owning a home, it makes more sense to continue renting.
- YOU’D RATHER NOT HAVE TO DEAL WITH REPAIRS
Homeownership of any kind comes with maintenance responsibilities that renters don’t have to deal with. Beyond the physical labor, it can be costly if you have to hire a handyman or buy tools to get the job done. When you’re renting a home or an apartment, maintenance is usually the one who handles the repairs for you. Not to mention it’s free of charge, which is one of the biggest things homeowners miss about renting.
- YOU DON’T PLAN TO LIVE IN ONE PLACE LONG-TERM
Do you plan to live in a home for at least three to five years? If you don’t, renting a home might be a better option for you. Many people choose to do this when they think there’s a possibility that work, school, or life will take them somewhere else in the near future.
- YOU MAY CHANGE JOBS
Financial security is even more important if you own a home. If there’s any uncertainty about your job security, income, or you plan to make a career switch, now is not the time to consider homeownership.
