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THE ADVANTAGES AND DISADVANTAGES OF RENTING

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THE ADVANTAGES AND DISADVANTAGES OF RENTING

Hey there,

Another week calls for another post, as you all know I just moved house and as much as it’s not further away this time, It was definitely still exhausting and frustrating. This was my fourth move, the first three were all exciting and fun since we were exploring more areas and my son was still tiny and didn’t really need daycare or nursery but after starting preschool and meeting new friends, there was no way we were going to change schools that early. I’m not saying that it’s bad to do it but I just didn’t want that for him and so finding a place nearby and close to his school was the only option. I am yet to finish unpacking and organising but this got me thinking about the advantages and disadvantages of renting.

The advantages and disadvantages of renting

Disclaimer: These are just my opinions and I’m not trying to be negative or bash any home owners or renters out there but it’s what I think about it and my experience. So, the advantages and disadvantages of renting

What are the advantages?

  • You don’t have to worry about fixing anything in the house, from leaks to ceilings to fixed electrics not working, you just give the landlord a heads up and they send someone over.
  • You can move anytime you want to so long as you give a notice when you plan to vacate the property.
  • Having the choice of long term or short term renting is all yours, hence doesn’t tie you down in case you have plans before hand.
  • There’s not repair and maintenance bills because the landlord deals with that.
  • Another advantage is that you don’t have to have a huge amount of money upfront as down payment but just a month or two month’s rent as deposit so that you can move in.
  • You can downsize anytime you feel that things are getting out of hand by moving to something more comfortable and manageable.
  • There’s always a fixed amount of rent required each month, which helps you to plan ahead and budget for it and be ready when it’s time to pay up.
  • Another advantage of renting is that some utilities or everything may be included depending on whether you choose a furnished or unfurnished house/apartment.
The advantages and disadvantages of renting

Now for the disadvantages,

  • First and foremost, you may not be able to even get the house you want since if you’re in the UK you have to apply for it then wait and see whether the landlord will approve it or not and if your references come back as expected.
  • Secondly, say goodbye to interior decorating, if it has anything to do with drilling holes or painting, I’m sorry to tell you that you may not be able to do that.
  • Another disadvantage is that the landlord is able to increase your rent after your contract finishes making you decide whether you will accept to stay or not.
  • If the house you are renting ends up being on sale, you will have to accept viewings anytime which disrupts your daily activities.
  • You will have to deal with regular visitations from the agents/landlord who come to check whether or not you are keeping the house in tip top shape.
  • You are not allowed to change anything in the compound be it planting new plants or just changing the outside unless you are able to put it back to how it was before you moved in.
  • Another disadvantage of renting is that you may not get immediate repair help if you get leaks or electrical problems.
  • If you’re in a furnished house/apartment, you will have to pay for any minor damages done to the furniture, rooms or utilities e.g painting of walls, even repurchasing furniture.
  • Also, when you do decide to move out, you may not get your full deposit back depending on whether or not the landlord thinks he/she needs to take a certain amount to repair something you may not have even caused in the first place.
There you go, the advantages and disadvantages of renting as per my experience. I know you may be wondering whether or not I will be staying a renter, but we do plan to be home owners very soon and to finally be able to do whatever we want with the place plus it will just be a relief at the end of it all. Just in case you missed my ways to effectively promote your blog posts, do check them out here. Haven’t started a blog yet? You can do it right here.  If you do have any questions or additions about the topic, do share in the comments below and tell me whether you are a renter or a home owner and if you prefer either one.

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49 Comments

  1. These are very good tips. You have open up your opinion regarding renting and I love those.

  2. These are points that need to be taken seriously and considered when thinking of either renting or buying a house. Thank you for sharing this with us.

  3. I can see both sides! We used to rent when we lived on base, and that was fine, but then we decided we wanted our own place! It’s nice to have something that is totally yours.

  5. We just bought o ur first home, and while that is excited there are some serious pits to being home owners. But it also wasn’t the greatest just burning money on rent while we were students. Great post.

  6. great article and for me, interior decorating is so important! the house should embody my personality! rent rarely works for me but need to be practical i guess!

  7. We moved a lot when my kids were young. It is really hard to pack and do things with a little one. Good luck with everything.

  8. For me, I think renting is perfect for people starting out with their lives. It’s just a place for you to get while you’re saving to get a house. But that’s just me. It does have a lot of benefits though.

  9. They definitely have their pros and cons. I think you pretty much covered them all. It’s really great that if something breaks or you have a problem w/ something that the landlord is responsible for fixing it. But then you never know how long it will take, etc. But yes, everyone should definitely make a list of pros and cons for themselves before jumping and signing anything. Great article!

  10. Thankfully, I’ve never had to rent. It would be hard to not make my home my own. Would be hard to have kids or pets if you were renting as mine like to draw on the walls and chew up things. ?

  11. Well, my family has been on both sides and I can understand the troubles people go through in a rented place. Any day I’ll prefer a self owned apartment over a rented one.

  15. Love this blog it really paints a picture for both renter and owners. I am currently a homeowner thinking about moving, so Ill keep this handy.

  16. We own our home, renting is like burning money. If you can buy, always buy, at least here in Netherlands, where you an sell your house within days anyways.!

  18. I’ve been renting my whole life but my husband and I are so ready to BUY and officially call a place our own. Ugh! It’s so hard to find the PERFECT house though – SO SO SO hard!!!!! But we are done renting, although I do think renting is easier than owning but whatever, can’t rent forever!

  19. I agree there is a two sided coin when it comes to renting, I agree when people say it’s better it is an investment, but with real estate being so up and down, I feel ike if I am no 100% sure I am gonna be living there for the rest of my life or for at least ten years then i don’t want to make that commitment.

  20. Although I own a home, my family has several rental properties. Sometimes owning a rental can be a headache too. Many times tenants are late on rent, or move out and leave the rental in complete chaos, or they call at all hours to report things that the landlord does not have control of (like arguments with other neighbors over ridiculous things). For renters I think it’s fabulous that they can up and move on a whim if their contract is month-to-month, and they don’t have to worry about home maintenance issues. I love the pros and cons you list for both situations!

  22. I’m absolutely agree with all the advantages and disadvantages points. I also experienced both the side but initially renting is good you don’t have to worry about anything.

  25. It’s always good to own a house. Gives you a sense of security for owning a lifetime investment and the comfort of home where you can do whatever you want, however, with work, it’s necessary to move once in a while and so renting is necessary. These are very useful insights to renting and very true. Thanks for sharing!

  27. My husband and I decided to buy 3 years ago. We initially rented for the first 4 years of marriage. We love being homeowners, and appreciate the perks (equity, credit score boost, etc), but we also miss the fact that our expenses increased substantially. We actually save money compared to monthly rent, but utilities for a house are much more expensive than for a one bedroom apt! We also have HOA expenses, and are now responsible for any plumbing or electric issues. I feel like the pros and cons of owning a house is a lengthy list! All in all, I do recommend owning though.

  28. Great read. Definitely advantages and disadvantages to both. Really comes down to your preferences, long term goals and current financial state. (Not to mention interest rates). Thanks for sharing!

  29. You have highlighted advantages and disadvantages in great detail. Enjoyed reading it and got points to keep in mind whenever making such a decision.

  30. We have been home owners for almost 13.years. There have been times that I wish we were renters — especially when the repair bills come in.

  31. I totally agree with you regarding the benefits of renting. We just bought a house after renting for the past 7 years but it was because we weren’t fond of our landlord. Also in my area, houses are still affordable so we wanted to jump on that train before another bubble bursts. We are pleased with our decision.

  32. Renting is a good option when it is a short-term goal. But sometimes, some landlords are so good you cannot think of leaving them. In the end, you must find a home for yourself. The sooner, the better for those who you care for.
    Loved your description that came from direct experience. Thank you.

  34. I rented 4 houses in a span of 7 years. Although the disadvantages do limit us from freely doing what we want to the homes we are borrowing, we also exercise being more careful of properties that are not ours. I value this quality that I acquired through the years of renting houses.

  35. Enjoyed reading your article.. I am currently renting a house after owning two other homes and love the idea of being able to move to another area without having to worry about selling a house.

  36. Quite an extensive pros and cons list on here!! I think it will take forever for me to decide.. I know a well-to-do family who live on rent in a super amazing flat! They have other apartments but they live in a rented apartment themselves. I guess, attachment is an important factor after all! 🙂

  38. There is such a high value to be a home owner in our culture. I’m glad that you’ve shared these pros and cons of renting. Depending on your life style and preference, it makes perfect sense to rent. ?Xo, Evelyn, PathofPresence.com ?

  39. These are good tips and really good things to consider before renting. I will be selling our house and these will be the same things I will be coming back to and thinking about.

  40. I rent my flat. I wish I didn’t! I know there are advantages and I should be lucky I can afford to have my own place but stiil, I would love to own and home and really say it’s mine!

  41. Such great information, especially for those first time renters. I think it depends on the individual and their finances to see whether renting works for them or not.

  42. Renting was fun. But I’d rather have something that’s my own, and I’d rather make an investment. To each there own, you know? Very great post. Thanks for sharing.

  43. I completely agree with all your points. These are something for so many people to consider!

  44. These are all true. We experienced renting for a few years before we got our own house. We are lucky that one of our relative was the owner so it was easier.

  45. I agree with so many of your points. At the end of the day you have to choose what works best for you.

  46. Sounds like renting in the UK is a lot like renting here in the US. I’ve rented and owned my own homes. You are spot on with the advantages and disadvantages.