Renting A Home Is Better Than Buying A Home?
Who says?
I'm not going to mention who, but I read an article this morning that I found on Google that stated renting is better than buying. Here are some of the reasons that were stated:
- Renting is more flexible since you can pick up and go when you want. When you own, it can take a while to sell your home. Yes, but, can you say EQUITY?
- Having to do your own repairs as opposed to the landlord repairing. Some landlords out there do not fix anything and you end up doing it yourself anyway. He mentioned a new refrigerator costs "thousands". You can get a nice fridge for under $1000.00 hre in New York. Where does this person live?
- He mentions that with renting, you are throwing your money away because you never gain ownership with renting. Ya think? With owning a home, you throw your money away on property taxes and HOA fees. He goes on to say he pays $3000.00 per year on his property taxes. When can we move in?
- Renters insurance is cheaper than homeowners insurance. Yes, but, again, can you say EQUITY? He says he pays a little over $500.00 per year in homeowners insurance. Try over $1000.00 here on Long Island buddy!
- Home prices go down in the short-term. That is why a house is a commodity and not a product!
My opinion is this, if you can afford a home, buy one. It is always a great investment for the future! If you can't afford it, then renting is always better than going bankrupt!
Cell: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieC@century21aa.com
Website: www.longislandrealestatelady.com
Website: www.lindenhurstnyrealestate.com
Blog: http://jackieconnellyfornuff.com
Skype ID: LIRealEstateLady
