Renting Better Than Owning a Home?

[Jorge Vazquez]

When considering buying a home, it's important to remember that the financial journey involves more than just the price tag. You'll likely need to make a down payment, which can be a substantial portion of the home's cost, and be prepared for additional closing costs. Also, some lenders might ask for cash reserves to cover future mortgage payments. It's worth noting that home prices have been on the rise, making this a significant investment. Once you own a home, remember there are ongoing expenses like maintenance, upgrades, insurance, and taxes, which are a part of the homeownership experience. 

Unlike homeowners, renters don't have to worry about these extra costs as they're usually covered by the landlord, making renting a more hassle-free option in some cases.

What do you think? 

[Steve Vaughan]

Quote from @Jorge Vazquez:

Once you own a home, remember there are ongoing expenses like maintenance, upgrades, insurance, and taxes, which are a part of the homeownership experience. 

Unlike homeowners, renters don't have to worry about these extra costs as they're usually covered by the landlord

Yep the ongoing expenses are free to renters like buyers agents are free to buyers.  It’s baked in to the rent or the amount the buyer overpaid for the house.   

While a renter may not have a lot of the hassles of ownership, they get the hassles of random % rent increases, places sold out from under them or not getting the room color or pets they want etc. 

The answer for me, once I was ready to have roots was a house with an income suite.  My house Is paid off and the rent covers all expenses you mentioned plus electric, our cell phones, internet and auto insurance.  

When will a renter ever have $0 shelter costs or even be paid to love somewhere?