Are you looking for a new home but in doubt if you want to rent one or buy one? This is a dilemma many people face. It is important to consider your situation carefully. Do you want a house you can live in for a long time or do you like to be flexible? And what is important for you to feel comfortable in a house? The answers to these questions will already help you a lot. Still, there are some very nice advantages to either renting or buying a house that can make your choice of renting or buying a house a lot easier. We are very excited to share them with you in this blog!
Advantages of buying
The biggest difference between renting a house and buying a house is that in the case of buying you own the house. You have complete control over what you do with your house. Also, at the end of the term, the mortgage is often paid off and you then live in the house basically for free.
- No problems with rising rents
If you rent a house, the rent may go up every year. If you buy a house, you won't be bothered by this. Especially if you fix the interest rate of the mortgage for a longer period, you know exactly what you will have to pay monthly in the coming years.
- Free choice
When you buy a house, you have complete control over which house it will be. When renting a house, you may be assigned a house. This is never the case when buying a house.
- Increase in value
When buying a house, you can completely decide what to do with the house. In many cases, renovating and refurbishing a house increases its value considerably. This can be interesting for the future.
Advantages of renting
- No chance of residual debt
If you do not intend to live in a house for a long time, renting is a lot less risky. If you have to sell a house after a few years, you may be left with a residual debt. With renting, this is not the case and therefore you run less risk.
- Fewer taxes and insurance
When buying a house, there are many taxes and insurances to consider. You are even required to take out certain insurances as a homeowner. Again, these are costs you don't have to deal with when renting a home.
- No maintenance costs
When you rent a house, you are not responsible for the maintenance and therefore no costs. If repairs need to be done this is the job of the landlord of the house.
- Move easily
A big advantage of renting a house is that you are incredibly flexible. If you want to move, you often have 1 to 3 months' notice and then you can go wherever you want. When buying a house, there are a lot more things to consider if you want to move.
We hope you now have a better understanding of which option suits you better, renting or buying. For more information or help about renting or buying a home, please