To Buy or Rent? It is Not All About The Money

After you are done thoroughly researching about all the financial issues of the buy-versus-rent decision,the next thing that you have to do is to look at issues from different perspectives. These issues mayinvolve your personal preferences and emotional factors that can collectively determine the impact ofyour decision regarding the quality of life that you will choose. These are the so-called financial issuesthat are based on your values, abilities, and personality. They need careful consideration and an answerto the question: what are the attributes of the place that you are living in that are most significant toyou?

City VS SuburbsThe environment that you will be residing in plays a crucial role in the quality of your life. And in thiscase, you can consider your personality. Do you like the city, with all the quaint cafes, nightlife anddiverse culture, or you would opt for the conformity, safety, free parking fee, and the green space inthe suburban area? Would you rather walk going to work or take the train and subway? How about yourprivacy, how far would you like to live far from your neighbors. If what you can only afford are thoseproperties in an environment that do not fit your own preferences, then you have to re-think whetheryou are willing enough to forego all these preferences just for the sake of having your own place.

Customization VS AmenitiesRenting can offer a greater variety and number of amenities than buying. For instance, the number ofhouses that come with a clubhouse, Olympic sized swimming pool, on-site gym, basketball court andtennis court. If you want to have all these amenities in your private place, then you need to beprepared to spend of huge amount of money. The upscale apartments that are found in almost everycity, can offer these options at a comparatively lower monthly rent when compared to a mortgage for aproperty having the same attributes. On the other hand, there are more affordable homes that haveprivate outdoor spaces that can be customized. There are not so many apartment buildings that comewith acres of property that can allow you to do your own landscaping, grow a garden o keep horses.

Stability VS FlexibilityRenting can significantly give you more freedom. The financial consequences that come along withbreaking a lease are minimal, and they can even be addressed by just writing a check. Homeownerswho wants to leave their current residence may face a more complicated process of selling theproperty. The mortgage needs to be paid and the grass to be cut while waiting for a new buyer. On onehand, instability comes with the flexibility of renting. The landlord may always raise the rent or ask youto move, before you are prepared to do so. If you own a house and you make the payments, you canalways stay there as long as you want.

Personal DecisionUnlike with the financial aspects of a home ownership, the aspects that will have a bearing on your ownvalues and lifestyle can never be calculated online, even with the use of mathematical formulas. If youcan qualify for a mortgage or pay the rent, you can always live anywhere you want to. Buying a homeis surely a decision that will take some time to consider, determine the location, amenities, and theneed for repairs would affect your emotional satisfaction and lifestyle. And this is wherehttp://tdynamo.com/ can be of great help.