Should I Rent Or Buy A Home

This is an editorial on whether or not buying or renting a home.

The decision as to rent or buy has to be based on many factors. You have to take into consideration many things. One of them being the age of the house. The older the house is that you may be thinking of buying the more problems can and will go wrong with it.

You will need to find out when these major things were last purchased and installed. Also, if there is any type of warranty. The following things can be very costly to you:

The roof, when was the roof put on and what type of condition is it in?

The water heater. How long has it been it? Do you notice any rust around it?

The furnace, when was it installed and does it have any type of warranty on it?

These are some of the major things that are very costly to have replaced.

You may get a really good deal on an older house. But if these things are old and needing to be replaced, you will need to factor them into the cost of the house.

The carpet, floors, counter tops and vinyl are all important features. If you do not like the colors or styles that are in there and plan to replace them, you have to factor in these also.

Does the bathroom tub, sink or toilet need to be replaced? All of these things cost money and add up to big bucks.

When you rent you are paying a house or apartment off for someone else. But if anything major goes wrong with it, the owner is the one that has to replace it. The burden does not fall on you.

There are many other things that have to be considered when you buy a home. Besides the ones that I have already mentioned, there is the general appearance of the house, inside and out. Does it need to be painted? This can run high, too.

Buying and maintaining a house can be a very expensive proposition. If you have the funds and the health to maintain it then I would say go for it. If not then maybe, renting is the best way for you to go.

There are inspectors that you can hire to go over a house for you. All these things cost money. But a good inspection is well worth the money in the long run. It could save you thousands of dollars in hidden costs.

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