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Renting or buying? So many choices to consider. Many people have different feelings on buying and renting a house, apartment, or a condo. Some people think that its easier to rent and some people feel the exact opposite. The truth is there is no easy way out. Both are major decisions that you have to think about, and both have consequences to deal with.
If you rent you have to be able to pay your rent each month and utilities if not included. If you buy a house you need to pay the mortgage, property taxes, and utilities. So either choice is still expensive.

If you know you only make a certain amount of money each month you don't want something that you cant afford. Some people feel it is cheaper to rent a house instead of buying one. Since you rent you don't need to pay the property taxes and some places for rent come with utilities included, which in this case it is cheaper. But some people want the satisfaction of owning a home, knowing that it belongs to them, but in reality when you buy a home most of the time it doesn't really belong to you it belongs to the bank, that you get the mortgage from.
You see the bank approves you for the mortgage and you don't really officially own the house until your mortgage is fully paid off. If you miss the mortgage payments the bank has the right to take the house away from you at any point in time.
It works the same with renting except the bank cant take it away from you, your landlord can.
There are different way to rent. You can rent by owner, or the owner goes with a real estate. If the owner roes with a real estate then when you rent you pay a brokers fee, which means the real estate agent gets a cut because you rented the apartment, condo or house from them. You can also buy a house from owner or real estate. the same conditions apply for buying. The question should you rent or buy all depends on your financial status. If you know you have enough money to buy and pay all the fees and taxes than go for it. If you know you only have a certain amount of money each month where you can only pay a monthly payment and maybe utilities than it may be better to rent, so you don't find yourself in a situation that is very hard to get out of. Buying and renting also has to do with your credit.
If you make a lot of money but you have absolutely no credit you cant buy a house unless you buy it all in cash, which many people cant do.
So should you buy or rent?
only you can know which way to go. So think about it very carefully.

Learn more about this author, Melissa Parrington.
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