New Mexico Logo


Advantages of Renting

By Christina Kelley

Conventional wisdom says that buying a home is always better than renting. There are many people who say that renting is really just paying for someone else's mortgage. However, there are definitely situations where renting a home is the smart choice.

First of all, it is not unlikely that renting with allow you to live more comfortably buying a house outright. With a mortgage, insurance, and utilities, the monthly payments on a home can add up quickly. Chances are these payments will total more than the single monthly rent payment you would pay on the same property if you were renting. Considering these facts, an argument could be made to just renting a nice place with the same money.

Renting is also many times safer than purchasing a home. To begin with, you do not need to worry about housing markets that could temporarily make the value of your house sink. This is an especially attractive fact when you consider that "temporarily" can mean up to 10 years. Also, depending on the market, a fixed rate mortgage may not be possible with your current financial situation. If you opt for an adjustable rate mortgages you will expose yourself to a whole other set of risks. Finally, buying a house means you shoulder all of the maintenance costs. That means when a heating system gives out, you are the one who is paying for it. Such big-ticket expenses can be budget breakers.

Also, do not forget that renting a house never comes with any buyer's remorse. If a few months after you move in you discover that you actually cannot stand the neighborhood, just wait a few more months until your lease runs out and the problem is solved.

Share this:


Leave a comment:

* Login in order to leave a comment. Don't have an account? Join for Free

adv ydv

You are not alone here, many users facing this problem, but do not worry here The best and simplest solution for Bluetooth audio devices in Windows 10 [

... More

John Froe

I have never done it before renting what is the renting process? I little confused because I am a writer of paper


Michaell Hog

I have never done it before renting what is the renting process? I little confused because I am a writer of and doing first time renting and I

... More

About The Author

Become an Expert Contributor

Have some knowledge to share, and want easy and effective exposure to our audience? Get your articles or guides featured on New Mexico Homes today! Learn more about being an expert contributor.

Learn More