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Let’s face it: we often find ourselves guilty managing our own finances. If you agree on this, you’ll surely agree on one more fact: if it’s about deciding on leasing or buying a home, you’ll think the entire day, or probably, the entire month about it, and still remain confused!
This isn’t your fault, though. Choosing between leasing and buying a home is a tough decision which is so common that you’ll find every other person talking about it.
Shockingly, there is no answer at all! Since it truly depends on your own preferences, you should consider different factors and find the right answer that aligns well with your lifestyle.
To identify if you should lease or buy a home, you’ll have to weigh your options in the following ways so you can make a decision and stick to it:
Costs
Did you know that there are specific areas where leasing an apartment is a cheaper option as compared to buying one?
One of the reasons behind this is that it saves you the headache of paying for all the repairs and maintenance. Even if a plumbing fixture isn’t working, all you need to do is to inform the landlord so he takes care of the repair costs.
Before starting your search, contact those who are already living in apartments in Bellevue and confirm about the overall costs of living if you choose to lease an apartment.
However, if paying around $14000 for installing a new roof doesn’t worry you, you’re better off buying a house so you can handle home maintenance without taking any financial burden. Still, you’ll have to prepare a budget for home maintenance.
Independence
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For you, getting your home ready for summer means splashing the walls with vibrant hues, replacing the light fixtures with modern light bulbs, and revamping the kitchen cabinets.
But wait!
Can you really do it when you’ve leased a home?
Perhaps, this is something you’ll need to ask the landlord. But if you’ve bought the house, it’s all yours! Do anything with it and nobody will care.
If you prefer a higher level of independence, you shouldn’t give a second thought to spending your hard-earned money buying a home in which you can make as many changes as you want.
Freedom
If telecommuting is your thing and you feel comfortable working from almost any part of the world, you can benefit from the level of mobility if you choose to lease a home.
Want to head to Los Angeles and have plans to live there for at least a year? All you need to do is negotiate the lease contract with the landlord and travel anywhere you want. But before finalizing the decision, you should search for such apartments by visiting http://www.carmelapartments.com/15-cliff/.
However, you can’t enjoy this freedom after buying a home. If you’ve bought the house already, you can’t immediately set travel plans as your money is stuck. Plus, moving to a new city will require you to go through the cumbersome process of selling your house first.
Flexibility In Switching Jobs
Let’s not forget career blues don’t take our permission before entering our lives. Just like others, you can be stuck in a similar situation too.
What if you lost a high-paying job and couldn’t help but accept a job offer that isn’t as financially rewarding as your previous job? Good news is that you can still afford luxury living by choosing a rental apartment that is more affordable for you.
On the other hand, it’s not practical to invest your savings buying a home if you’re earning an income that is comparatively lower than your expectations. However, if you’ve bought a house already, you’ll be able to enjoy a higher level of financial security.
