There comes a time in many people’s lives when they need to make an important decision: should I keep renting or is it time to purchase a property? Needless to say, this is a life-changing resolution that shouldn’t be taken lightly!

If you’re currently in this conundrum and would like a bit of guidance to make the right decision for you at this point in your life, AREA Title Agency in Toledo has got your back with this post.

Renting vs Buying

Renting

  1. If you rent, you have the freedom to move around, change neighborhoods and even move to a different city if you like.
  2. There’s also the relief of knowing that you aren’t in huge debt for a number of years to come.
  3. At the same time, you don’t feel as much responsibility for the place: if a pipe breaks or another repair is needed, it’s probable that the landlord will have to take care of it.
  4. Plus, you don’t have to deal with all the negotiations, paperwork, legal responsibilities, etc., that go into the process of buying a house.
  5. Finally, your investment isn’t at the mercy of the economy’s and real estate market’s will.

Owning

  1. On the other hand, buying a property gives you a sense of security and is the perfect option if you’re looking to settle down.
  2. Moreover, you have a place to call your own and nobody can kick you out of it (as opposed to if you’re renting a place) unless you fail to pay up.
  3. You get a sense financial stability since you know how much you need to pay and for how long. If you’re renting, the landlord can decide to raise the price all of a sudden, and you never stop paying.
  4. An important point is that this is your and your family’s property, meaning that you can pass it on and provide your loved ones with a patrimony.
  5. Your house, your rules. Would you like red walls? Get them! Do you want a bigger kitchen? Go for it! This is your house and you can customize it to fit your style and needs.

For Title Insurance in Toledo…

If you’re thinking about purchasing a home, don’t go into this transaction unprotected! Here at AREA Title Agency, we offer title insurance that will keep you covered in case there are any irregularities present in the property’s deed. Call (419) 242-5485 for more information about our services!

On June 6, 2018   /   Buying a Home   /   Leave a comment

Leave a Reply