The pace of life can be so quick that we have a tendency to blow by important decisions. One such decision is the decision to rent or buy a home.
The Decision to Rent or Buy A Home
One of the biggest decisions people come to is the issue of renting versus buying. Really, it is an extremely tough choice to choose between the two. However, I once had an economics teacher who put it extremely well and puts the whole thing in perspective. His motto was, Rent when you have to, buy when you can. This statement is only too true, and here is why.
Renting can be a big plus for certain people. People who are on the move, people who get relocated with their jobs and need to stay mobile, and also for people who just moved out of the house and have low income and no credit. In any of these situations, renting is definitely a good choice. Renting allows people who need to stay mobile the opportunity to do just that. They go month by month and arent committed anywhere. Also, the paperwork required for renting is minute in comparison to that of buying and selling. In addition, those with low income and credit scores should also consider renting. Looking for a mortgage...
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