Why buying is better than renting

So, you're wondering why buying a home is better than renting one? We've prepared a list of reasons why buying is better than renting. Of course, we'll gladly share it with you in the article below. Stick around for some pretty useful info!

#1 When renting, you're investing in someone else's property

The money you spend on the monthly costs while renting can't come back. You're basically giving it away without a chance to somehow monetize the investment. Any repairs or upgrades you might do around the home (even though your landlord will probably pay for them) are also investments into someone else's property. This makes buying a better option. Whatever you do - the money invested will come back if you ever decide to sell your place. Every minor repair or upgrade will boost the chances of profiting. On the other hand, the only one who profits when you're renting a home is, of course, the landlord.

By paying monthly rent, you're investing in other people's property

#2 Also, you're paying off other people's mortgage

Your monthly rent can easily be used to pay off someone else's home. In other words: you're paying off someone else's mortgage rate instead of investing that money in buying a place for yourself. Of course, many folks don't have enough for a down payment, and renting is the only option they have. Still, if you've got the chance, and you're delaying the buying option for whatever reasons - it's best you give it a second thought.

#3 You're a bit short on power, too

Well, this one goes without saying. Still, we thought it would be nice to emphasize the power you'll have to choose whatever you feel needs to be done around the home if you're the owner. In other words - you're in total control, and you don't have to negotiate every little thing you want to do around the place. When buying a home, you'll have to negotiate the price, but that's a whole other story. Also, landlords can get on your nerves sometimes. While you think something's necessary - they might think otherwise. By buying a home, you're ruling out the possibility of someone messing up your plans because of this or that reason. This is why most folks like having their own place. You don't have to ask for permission if you want to change your home for the better. You're your own landlord!

As a homeowner, you'll have the power to choose what needs to be done around your home.

#4 By owning a home, you'll ensure yourself piece of mind

Your mental health doesn't have a price! Think about your children. If you're the owner of the place they live in - they'll know they have a place to call home. When renting, one can get used to moving a lot. One can spend countless hours browsing professional movers on Verified Movers and endless amounts of money organizing frequent moves. With a place to call your own, you'll avoid these scenarios. Anyway, it's no wonder some renters are always experiencing a mild form of stress. Although some of them live in the same rented flat for years, you never know what can happen. Of course, you're ensured by a contract with the landlord, but still... It's far better to own a home.

#5 By owning a home, you'll have the opportunity to earn a passive income

This one's also pretty self-explanatory. As a homeowner, you can rent your place out to other folks. The best thing is, you might not have to move out at all. For example, let's say you bought yourself a triplex. You can live in one unit and rent the other two. Now, doesn't that sound fantastic?

Bonus moving tip: Hiring professional movers?

Alright, so we've squeezed this one in the article also, as you might find it helpful when the time comes to move into your new home. Hiring professional movers to handle that task doesn't have an alternative. If you're looking to go through the ordeal without enduring stress, that is. Imagine your new home is far away from the one you've rented for years. Let's say it's in Texas, for example. Long-distance moves are a tough nut to crack. Ensuring a stress-free process with adequate help is the best option you've got on your hands. Ask anyone, and they'll tell you the same: hiring professionals is the way to go when doing a long-distance relocation.

Hiring pros to help you relocate doesn't have an alternative.

#6 Speaking long-term, buying is cheaper than renting

When you consider everything we've mentioned, you'll notice that buying is most definitely the cheaper option. First of all, you're investing money in your own place. Secondly, you can profit from a later sale (if you choose to). As we've already said, your monthly rent money never comes back. You're basically giving it away. When one thinks about it thoroughly - the price is too high. Don't hesitate to buy yourself a home if you've got the money for a down payment.

Final words

These were the reasons why buying is better than renting. Some of these you already knew, of course. Still, we thought you might need some convincing. Let's do a quick walkthrough. By buying your own place, you'll ensure every single repair is an investment. When the time comes to sell your place, you'll profit from those investments. Don't pay off someone else's mortgage. Also, buying gives you more freedom to do anything you want around the place. Oh, and don't forget to hire movers to help you move to your dream home in San Antonio, for example. Lastly, you can earn yourself a passive income by renting the place to other folks.