Buying Vs Renting
When it comes to real estate investments, just as in all aspects of life, there are always going to be people who are comfortable in different positions of life. Many people are very happy as renters and do not wish to have the responsibility of purchasing their own home. Many people have not only a primary residence, but also actively invest in real estate as a secure financial investment and providing much needed housing for the renters. In short, there are good aspects in regards to both renting and purchasing a home.
When renting a home, there is little responsibility to the renter as far as upkeep and maintenance of the investment property. If things go wrong or there is a problem, they are free to call the property owner and the problems will be fixed. For the homeowner, the problem is a little bit more involved. The problem must be diagnosed to discover what the problem was, what caused the problem and then they are still responsible for the repairs and costs associated with that maintenance and upkeep.
For the renter, packing up and moving may still be a difficult task. They still have all of the same possessions as most homeowners, but they do not have a thirty year mortgage keeping them in place. With proper notice being given, the renter is able to move freely wherever and whenever they would like. For the real estate investor, it is a little more difficult, as there is often a mortgage to be considered, as well as other factors which only the homeowner can truly comprehend.
The homeowner also has something else that the renter does not. Whether it is real or imagined, being able to return home to someplace that is actually your very own, is a satisfying experience. When the home is owned, there is nobody who can say what modifications to the real estate can or cannot be made. The freedom that owning your own home allows you to do as you please, within reason of course is a feeling that is very comforting to most people.
While not everyone is going to want to accept the responsibilities that come with home ownership and a real estate investment, most people would agree that the benefits are well worth the cost. Investing wisely in a home is a good idea for anybody who truly wishes to understand what that feeling is. The cash value of a good real estate investment is secondary to the rest of the home ownership experience.