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The Top 5 Reasons You Should Always Buy, Never Rent

July 14th, 2016

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When looking for a new home, it may be tempting to think that you will save money by renting, instead of buying. The truth, however, is that you’re always better off buying. Not only will you be able to enjoy full autonomy of your own house, but you will actually spend less money than if you try to rent. Here are the top 5 reasons to buy your next home:

5. Decorate, Upgrade, and Repair as you please: It’s hard to call a house your home when you don’t have the basic freedom to hang pictures in the living room or install a new dishwasher without explicit permission. In many rented homes, you may not even be able to get a repair done without going through your landlord, meaning that you won’t get to choose the quality of the repair, and may have to settle for bottom-of-the-barrel work. When living in a home, you want to be able to decorate, upgrade, and repair whatever you want, whenever you want, however you want.

4. Never Say Goodbye to Man’s Best Friend: It can be very difficult to find a landlord that will allow pets, and even then there will always be restraints on the size, breed, and number of pets you can have. If you love animals, you’ll love owning your own home, and never having to say goodbye because of a landlord’s rules.

3. Investment and Tax Benefits: A home is an investment, and paying your mortgage each month will increase your equity and bring you tax breaks. When renting a home, the money you pay each month won’t widen your equity or improve the bottom line on your tax returns. Even if the sticker-price of buying is greater than that of renting, you will end up getting more money back by buying, and are actually making the frugal choice.

2. Go Green: When renting a home, the appliances your landlord gives you are the ones that you have to take, and all too often they are low-quality, high-energy pieces that will hike up your energy bill and severely impact the environment. When buying a home from a builder like Olson Homes, you know you’re getting the most energy-efficient appliances, and that you will be able to replace them with newer models in the future without waiting for a landlord’s permission.

1. Soaring Rent Prices: In Los Angeles and in many cities across the country, the price to rent is climbing exponentially. Not only that, but securing a rented home right away, before the price rises any higher, won’t help, because your landlord can always hike the rates. When you buy a home, you pay one price, and your monthly mortgage payments are set from the beginning. Not only that, but the price you pay will actually be less than that to rent!

In the end, there is no money saved by renting, and all benefits are lost. The practical, frugal, and liberating choice is to always buy, never rent your home. If you’re looking to buy a home in the greater Los Angeles area, visit us to explore our many communities at: http://www.olsonhomes.com/.