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Renting a House vs. Buying a Home

Posted by Veronica On November - 12 - 2012

There are many diverse opinions on the idea of renting a home versus buying a home. All in all, it boils down to preference and the needs of the individual and their family. The reality is that buying a home has always been the “American Dream” for many individuals. Owning sustains a sense of stability and success. Buying a home is an exciting time, for instance, for new couples as they can go into a new endeavor together and start a family or continue their family. Buying a home is also becoming a big part of success for a single individual, as buying a home usually comes after a great job has been had or money has been saved. Renting a home on the other hand is temporary for most individuals. The idea of renting a home does not necessarily feel like a permanent situation, since the majority of individuals eventually want to own their own home one day in the future.

The perks of renting include the idea that one could leave the home to travel or change locations after a short amount of time. Renting is also good for people that are only planning on living in a certain area for a specific time period. Conversely, buying a home is looked at fondly for most individuals because it gives people the accessibility to finally own where they live. Owning also affords individuals the chance to modify areas of the home, since they own it. For example, in terms of owning, some people choose to install a pool, or another bedroom, or even a second story. There are many modifications that people choose to do on their home once it is theirs to keep. Owning a home also gives people tax breaks and other financial perks. Owning also allows people an investment that is easy to maintain and gives the sense of a confident financial future. Overall, the differences between owning a home verses renting a home is based on preference and the needs and wants of the people involved.

About the Author

As a broker specializing in multi-units and single family homes in Southern Maine, Veronica Schneider joined the real estate industry in August of 2004 bringing with her over eight years of experience in real estate management. You can find Veronica and Green Tree Realty on Facebook, Twitter, Google+, Pinterest, and LinkedIn.

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As a Portland Maine real estate agency Green Tree Realty specializes in Residential and Investment real estate for southern Maine buyers, sellers and investors looking in the Androscoggin, Cumberland and York counties residential and investment markets.


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Portland, ME 04103
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