For some, the dream that they aspire to has to do with a beautiful two-story house and an adorable white picket fence. Everything about the job that he or she chooses, the location in which they find themselves, and how they handle their money is factored into the end game of finding that perfect home in which to settle down. But for others, the opposite is true. Some people move often for work, or find work that allows them to get a change of scenery often, so that they don’t get restless stuck in one place for too long. This leads to two very different lifestyles and long term goals. While the one pining to be a home body will ultimately want to own a house, the vagabond will more likely rent instead of investing in one spot.
How to know if you should buy or rent
As people get older and start to hone in on their strengths, skills, interests, and goals — be it long term or short — it becomes more apparent which way they will lean. If you need change frequently, chances are that you have started to figure out that renting is the better option for you. Many apartment leases are for 12 months, while still others can be even shorter, so for someone who moves often, that shorter time frame is more desirable than getting roped into having to pay for something longer than you plan on being around. In fact, an average of 45 million individuals move someplace new each and every year. And for business renters, a commercial property management company could be the perfect solution for your company’s needs so that you don’t have one more thing to worry about. For those looking for the long term deal, buying a home is a good investment, and you wouldn’t necessarily need any outside help like that of a commercial property management company, as your main focus would remain in the same place.
The pros and cons of each
While owning a home definitely has its perks, such as not answering to a landlord and decorating exactly the way you want, there are also perks to renting, such as the freedom to move whenever the lease is up, without having to worry about what happens to the property next, and sometimes it also means lower payments every month, depending on the space. Costs for insurance also differ, as the average that a renter will pay is about $12 a month, compared to the $25 to $80 a month for an average homeowner. And as far as the commercial property management company is concerned, it can either be a major help for those looking to keep their focus on other things, like the details and every day happenings of a business, or it can be a hassle, for those who would rather handle all of the property business themselves. When it comes down to it, it is not too difficult to figure out if renting or owning is best for your personal needs and preferences.