New Illinois Poll Reveals If Renting Or Buying Is The Better Option
Whether you rent an apartment or have already bought a home, there are always the pros and cons to both. In this new study, Illinois residents reveal if buying or renting is the better option.
I rent an apartment. This is my first apartment ever and I absolutely love it. There are all sorts of reasons I didn't buy a home right off the bat, so let me take you through a few of my thoughts:
#1: I don't know where I want to settle down yet. Buying a home is an extremely big decision and once you buy, it's definitely harder to just up and move somewhere else.
#2: If things need replacing or fixing like my toilet, sink, or fridge, then I just call up my landlord and let them know. No extra expenses come out of my pocket!
#3: Maintenance & property taxes. If I bought a home, I would have to keep the grass cut and shovel my own driveway. Nope not doing it! Property taxes are another expense that I probably couldn't afford yet.
After taking it to Facebook, the study found that everybody had all sorts of opinions. Here are some debatable answers:
A very reasonable response...
They are right about the Illinois taxes...
Being able to move is a plus...
Maybe renting isn't the way to go?
Someone who has done BOTH!
Or we can just all agree with this person and find a Plan C.
After looking at this website, I noticed they made some really good points for anybody ready to buy or rent,
Whether you choose to rent or buy your home depends on your financial situation, lifestyle, and personal goals.
Like I said before, I probably couldn't afford a house with high property taxes right now, so maybe that's why I really pushed more toward an apartment.
And this gives a lot of clarity, too:
Homeownership brings intangible benefits, such as a sense of stability and pride of ownership, along with the tangible ones of tax deductions and equity.
I guess in the end it's kinda going both ways. It all really depends on the person and where they're at in life! So now it's up to you to give your thoughts: Rent or buy?