My spouse and I will be ready to purchase a home in 2009. Right now we are still working on paying off taxes and bills. We will have a substantial down payment by then as well.
We have children and would really like a backyard for them to play in, that's why we were considering renting a house for the next two years.
What are the pros/cons of renting a house, or should we continue to rent an apartment?
thank you.
2007-10-14 02:33:08 · 6 answers · asked by WHOISTHEPUPPETMASTER? 5 in Business & Finance ➔ Renting & Real Estate
pros-
1.) More space (interior & exterior)
2.) More privacy (less noise, fewer neighbors...)
3.) In some cases, more secure than an apartment building with a single entrance (but this is not true in all cases)
4.) Better parking (depending on location)
5.) A garden (possibly)
cons-
1.) More Expensive
2.) Fewer on-site amenities (in many cases)
3.) More maintenance (lawn/tree/garden & and interior)
4.) Location may not be as accessible in some urban areas (bus/subway).
5.) If you have a fear of isolation, the privacy may make you feel less secure. Also, fewer eyes to watch out for you (this may also be a good thing).
6.) Utilities will be significantly hire than in an apartment, however if you're in an apartment where they're spread across all the units, you may be subsidizing a utility hog. In a house, you only pay for what you use.
The most significant difference is the cost. If you can afford the house rent, I'd probably go with the house since the kids will probably greatly benefit from a backyard (so will your sanity).
2007-10-14 03:26:05 · answer #1 · answered by therainbowseeker 4 · 1⤊ 0⤋
How old are your kids? Do you live close to a park? If so it may be better for you financially to stay where you are. Rental houses can cost more than a mortgage every month, so there goes any extra that you can pay on your bills. I would stick it out.
2007-10-14 05:27:34 · answer #2 · answered by Ryan's mom 7 · 2⤊ 0⤋
That really does depend on your personal needs and wants. An apartment has no privacy since everyone shares walls, etc. and in most cases it has no facilities for a children's play area.
A home on the other hand has the ability to create a children's area and you are not exposed to many unknown people walking by or hanging out by the front door like you do in an apartment. A word of caution though is that a home has more maintenance in most cases than an apartment
2007-10-14 02:43:53 · answer #3 · answered by newmexicorealestateforms 6 · 2⤊ 3⤋
if you're renting a house you may eventually be able to buy it but that probably won't happen with an apartment. also, the housing market is collapsing so it might be easier to buy a house now than later.
2007-10-14 02:41:00 · answer #4 · answered by is better than you 5 · 2⤊ 0⤋
I personally, would not rent a house unless yard service came with it.
I would agree to water, but mowing and weed-eating on a rental? Forget it.
2007-10-14 04:40:57 · answer #5 · answered by Expert8675309 7 · 1⤊ 0⤋
The Salvation Army and the United Way will have contacts for her on getting lower income housing. That is what they are there for - to help people like her. /
2016-05-22 09:27:07 · answer #6 · answered by ? 3 · 0⤊ 0⤋