What are benifits renting a apt. verses buying a home?

What are benifits renting a apt. Verses buying a home? Asked by newuser8746693 45 months ago Similar questions: benifits renting apt verses buying home Arts > Books > Books - Poetry.

Similar questions: benifits renting apt verses buying home.

Pros and cons Here's a list of the benefits I see for each of the options. HOUSE-------- Potential tax benefits of paying mortgage interest and property taxes. - Freedom to decorate/remodel as you please.

- More room to spread out. - When you move, you should get the money you paid into the mortgage back. - Hopefully your home will increase in value while you live in it.

- With a fixed-rate mortgage, your payments will be the same every year. - Usually has a private garage and laundry facilities, which apartments often don't. - Much easier to haul in groceries, etc, without flights of stairs to deal with.

- Usually has a private yard. - Noisy neighbors aren't on the other side of the wall. :-)APARTMENT------------- Easier to move on short notice.

- Minimal money needed to move in (compared to house down payment). - Utility bills will usually be smaller. - Maintenance/plowing/landscaping often handled by management.

- No property taxes. - Renter's insurance is cheaper than home-owners insurance. You can probably tell that I prefer owning a house to renting.

I rented for 8 years and have owned a house for 10. Generally speaking though, you should only think about a home if you plan on staying in it 3-7 years. Otherwise, you probably won't be able to recoup your investment when you have to sell it.

Sources: opinion .

Renting 1 rm in a 3 rm apartment and work from home in my rm. Must my deduction be from %age of rm I use or whole apt? " "How much more would it cost to live in NYC than in Nashville TN?

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Renting 1 rm in a 3 rm apartment and work from home in my rm. Must my deduction be from %age of rm I use or whole apt?

Will be renting and not buying a home BTW. Thank you.

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