Why Renting a House is Better than Owning?

by Landlords Solutions Executive

A few months ago when I was planning to shift in Maryland then, I was looking for a house to buy. I searched for many houses that can match my requirements. I find many apartments and house but all was going beyond my budget. I just cannot afford such expensive houses and if there are some apartments that is within my budget, are not suitable for my family's requirements. Then, I thought what if I rent a house instead of buying one.

I started looking for rental properties in Maryland and the results actually surprised me. I found so many rental properties and it was exactly like one I was looking for. I thought what so bad to rent a house instead of owning it. In fact, I haven't even decided to shift permanently in Maryland so renting a house there is actually a good option for me.

But, this is my perception, may be the things go completely different in your case. You need to consider many things to decide which will be better for you – renting a house of owning it.

Here are some reasons that will say why renting a home is better than buying.

It is Cost effective

Buying a house is not cheap. It requires big investment and not everyone can own a house. You may have to take home load to buy a house while, renting a house is cos-effective. You need to pay only monthly rental charges to the homeowner or landlord. Even the electricity bills, water bills will be paid by the landlord. Everything will be included in your rental charges only.

While living in a house you will have to pay your electricity bill, water bill, maintenance charges and other utility bills and due to large area of place the bills can be higher. When you live in rental property then, all these are need to be taken care by your landlord and if you are paying the bills on your own then also the bills will be less due to limited area of the place.

You Don't Need to Do Repairs and Maintenance

If you are renter then, you can simply call your landlord or the property manager to tell what type of problems you are facing and then, it's their responsibility to resolve the issue as soon as possible.

But, what if you have your own house who will you going to complain about broken pipe or a leaking faucet at mid-night, where will you search for a plumber of electrician in case of emergency in a completely new town or city? Well, this is one of the best advantages of renting a house instead of buying.

The landlord will do all repairs and keep the house maintained also, if you are not responsible for the loss then, he will not charge you anything.

You Need to Relocate

If you have a transferable job and you always have to relocate from one place to another then, renting a house is actually a good option for you instead of buying it.

You should never buy a house until you are sure about living in the same city for a longer period of time. This can be really expensive for you. The investment you will require to purchase a house can be way more than your expectations. So, if you will shift to another city in few months or years then, renting a house is the best option for you.

This is not only good option for those who has transferable jobs but, also for them who are in permanent jobs so that they can easily plan to relocate in future if they will find some other good option in future.

Selling is Not Easy

What if in future you need to shift to another city? What will you do with your Maryland residential property? Obviously, you will sell it, isn't it? But, do you think selling a home is so easy? No way! Selling a home can never be so easy as it seems to everyone.

Well, finding a buyer is not easy and somehow you find one it is not necessary that you will get the best price for your property. You will have to prepare a home selling plan. Contact a real estate agent who can help you to market your property and selling at good price. But this can also be expensive for you as you will have to pay the real estate their commission.

But, if you are living in a rental property then, you don't need to face such things. You can just inform your landlord by giving the notice a month before moving. And you can move easily. So, this is one of the main reasons why renting a house is better than buying a house.

Hope with the above-mentioned points you may have come to now that which one is best for you – renting a house or buying a house in Maryland. Think about the benefits of living in a rental property in Maryland or buying your own house in Maryland and take your decision wisely.