Is it better to rent or rent to own?
Having to choose between renting and renting to own is a big decision, and both
options have their own convenience. For example, renting offers a lot of flexibility while
renting to own provides equity investment. These options really depend on people, their
way of life and their future plans. For me, I prefer renting to own since it is suitable when
you plan for stability. Since I live in the city, it is convenient if you have your own home
since real estate are becoming demanding. Moreover, here are the other factors that
would support my option:
Less hassle- renting to own provides peace of mind and a sense of assurance
knowing that you are living in your dream home. Renting to own helps you build
commitment and have the convenience in not packing and moving out to another
place if your lease term expires.
Equity investment- renting to own involves a long-term plan. I especially want a
place that has a good location for a business to strive. Locations like in front of a
university can help me grow a business and at the same time, help to pay my
rent. Renting to own builds equity in a such way that you can sell it in the future
since real estate prices increases over time.
Trial and error- since you are renting to own a home, one can already settle the
issues like having the realization that it is not the right home for you or having the
inconvenience in transportation to work. Somehow, it can help in really
determining your dream home.
