Renting versus buying is the ultimate conundrum. Many people are faced with tough decisions when they are deciding to assert their independence.
Of course, there are a plethora of arguments for both cases and each argument has valid points. Whether you decide to rent or buy is a matter of personal preference and whether you have your finances in order.
Let’s get to the showdown:
With thanks to Images Money for the image
Renting affords people the luxury of freedom that buying does not. If you are keen to experience more of your home country, or you want to see more of the world, renting puts you in an excellent position to do so. If you are keen not to be tied down for the next thirty years of your life, renting is the perfect solution.
Renting allows people that don’t have significant savings to assert their independence. It also allows people that want to seek independence the ability to save while they are in the comfort of their own home. Putting a nest egg aside is important if you dream of being a homeowner. If you want to seek the advice of the experts, contact a letting agent in Cambridge.
By renting a property, you do not have to worry about potentially large maintenance bills on the property in which you live. As your landlord has a legal obligation to carry out the necessary repairs on your home, this frees up more cash to do the things that you love.
Let’s be honest, mortgaging a property can be hard work and is a huge financial commitment that many people do not want to undertake.
For those that crave stability, then the mortgage is the obvious solution. Many people like the feeling of having a place to call their own. What is more, you will have sound financial investment in the bricks and mortar that you have worked hard to buy. While getting the initial deposit is seemingly difficult, nothing will beat the feeling of being a homeowner.
Furthermore, it is always nice to know that you are investing in your future. Mortgaging allows people to see a hefty return on investment, especially if they are buying in the current market. While it can be difficult to get onto the first rung of the property ladder, it is a worthwhile investment.
If want freedom within the confines of your own home, mortgaging is the perfect solution. You can decorate, remodel and landscape the whole of your home without having to run the finer details past the landlord. Essentially, you are the master of your own destiny. You can turn a tiny run down house into a grand home with your own personal touches. Having the freedom of turning a house into a home is a wonderful feeling.
Experiencing financial discipline for the first time can be something of a daunting prospect. Becoming savvy with your money is an all important step to take when you are becoming an adult. Having a mortgage will guarantee that you become better with managing your finances.