The disadvantages of renting
There are plenty of advantages when it comes to renting a home. If you are not sure for how long you are staying in a specific location or when you simply don’t have the money to buy a place, then renting is often a perfectly acceptable alternative. Other advantages of renting are that you won’t have to worry about structural maintenance and you can always leave when the situation of your income or job changes.
However, there are also some noteworthy disadvantages of renting that you will have to take into consideration. One of the main disadvantages of renting a home is that it is not very stable. Your landlord is allowed to remove you based on any infraction and they can also decide to raise the rent making it impossible for you to continue paying your rent. Another disadvantage of renting is that you won’t benefit if the value of your house or apartment goes up. Moreover, all the money you spend on paying your rent is not being invested in long term security nor are you building up any savings.
On a more personal level a disadvantage of renting is that there are often many regulations that prevent you from feeling truly home. If you’re not allowed to paint the walls or change the furniture you will feel as if you’re living in someone else’s place. There also apartments that do not allow smoking or animals. A bad relationship with your landlord can also add to negative feelings.
Before deciding on whether to buy or to rent a home, it is worthwhile to evaluate both the ups and the downs of both options.