The Pros and Cons of Renting Versus Owning

Trying to decide whether you want to rent or own can present a huge conundrum. There are perks and pitfalls to both, but what should really determine your decision is your individual needs. Your lifestyle, financial situation, and goals should dictate what kind of home you want to keep. If you like moving around a lot, for example, owning a home may not be the best option. On the other hand, if you’ve saved money for a down payment and you’re ready to make the purchase, you might as well go ahead. There are also all kinds of other costs associated with both renting and owning a home that aren’t just spelling out in the lease price or the mortgage. Here are four of the major pros and cons you’ll encounter when trying to decide whether it’s better for you to rent or own your home.

Taking Life Stages into Account

Can't Make Up Your Mind About Renting Or Owning? We Can Help
Can’t Make Up Your Mind About Renting Or Owning? We Can Help
One of the major factors in deciding where to settle is what’s going on in your life. If you’re looking to get married and have children, buying a home might be prudent if you want to settle somewhere. On the other hand, you might be in the same situation, but you don’t plan on staying in your current geographical location. It all depends on what your future plans are. The basic difference between a rental property and owning a home is that the rental is more flexible. The only thing you’re tied to for a year or more is a lease. After that, you’re able to freely move and not have any ties to the same residence if you so choose. The other perk of renting is that the landlord is responsible for all repairs and maintenance, so you don’t have to worry about that side of things. The biggest factor, though, is where your current financial situation sits. If you’re in a lot of debt, buying a home may not be in your best interests. You need a back-up plan or at least a cash cushion in case something goes wrong. Once you’re locked into a mortgage, it’s much harder to get out of than a lease.

The Real Costs of Owning a Home

Think About Your Needs When It Comes To A Home
Think About Your Needs When It Comes To A Home
When you own a home, you’re not just going to be paying a mortgage. If you own a house and it sits on land, you’ll also be paying different types of taxes. Don’t forget about replacing the roof, if the basement floods, if your dishwasher breaks, and any other number of scenarios that could happen. While this shouldn’t scare you away from investing in home ownership, you should be prepared to deal with issues like these if they arise. The same goes for an apartment, such as a co-op. You’ll need to pay a monthly maintenance fee, and you’re also responsible for certain costs of upkeep that you wouldn’t be if you were renting.

Understanding the Real Estate Market

The real estate market isn’t only important to understand in order to buy a home at the best price possible, but also to know what you’re getting out of home ownership. There are the possible issues you run into as a home owner, but you also have leverage because you own property. You can borrow against your home, and while that’s not advisable unless absolutely necessary, it does give you an edge above other borrowers. It’s also essential not to buy a home that’s out of your price range. If you can wait to buy, prices will eventually go down again, and that’s the best time to make your move.

Risks to Avoid When Renting

Renting Has Its Advantages.. But So Does Owning A House
Renting Has Its Advantages.. But So Does Owning A House
Although you have lots of flexibility while renting and maintenance is the landlord’s responsibility, you also don’t have recourse for certain situations. For example, in certain cities, it’s the landlord’s responsibility to treat a property for vermin such as bed bugs and cockroaches. However, even if they’re financially responsible for it, you’re still going to be living in the situation. You don’t have any recourse if something goes wrong in your apartment and it takes time to get fixed. Housing court is also not an ideal solution, and can take a long time. Always have a back-up plan when you’re renting, and preferably at least a friend or family member’s residence you can stay at if need be.

Why Tossing Things that Break is Killing Your Wallet

Too many people today see something that is broken and just discard it, as if it being broken means that it will never be whole again. For the first time in a very long history, people aren’t breaking things when they fix. Ripped pants are thrown away. A toaster shorts out ad people throw away their old things and go out to buy new ones. That kind of behavior always has been and always will be some kind of messed up, out of proportion kind of action that just makes things more expensive than you need them to be. Who knows when the act of tossing anything that is mildly broken became something that was accepted in our society, but we know that we can fix it and that we can change the way out wallets lose and gain money.

You Can Fix It

Learn To Fix Things Around The House And Save Money
Learn To Fix Things Around The House And Save Money
Certain things that break are very fixable. For example, when the scree on a smart phone breaks, the automatic reaction is to go to the store it is from and demand a quick fix. The problem with that is that the store’s version of a quick fix is to get you an entirely new phone altogether for hundreds of dollars, whereas the screen could be repaired at a tech shop for under a hundred dollars. The same goes for most appliances and other technologies that we use in the world, everything from TVs to lamps get chucked out because they are broken, and then leave the owner in the position of buying a totally new device. So don’t be afraid to find a specialist and use their services to repair what is broken, or better yet, learn to do it yourself.

Repurpose Things

Give Things A New Purpose Instead Of Getting Rid Of Them
Give Things A New Purpose Instead Of Getting Rid Of Them
If something is in fact, utterly totaled, it can be changed and repurposed to be made into something else. There is now better way to use a dead object than to give it a purpose with something else, a fixture in the garden to help plants grow or even interesting décor for the house. Recycled art is an incredible phenomenon that is great for your home, especially if you are prone to really breaking things and then trying to keep using them. Just remember not to become a harder, repurpose what you can and then throw the rest away.

It Might Not Be Broken

Sometimes things are ornery and don’t like to work one minute, and then the next they are fine. Especially concerning technology, things that seem broken are just a little bit on the fritz and are a little messed up in parts that can be fixed. Don’t worry about the potential mess ups that may happen once and a while you might be able to tweak it the way you want in order to get it to work, you won’t be able to recover it if you just junk it all away.

Useful Parts

There might be parts that you need in dead machines that are good for replacing parts in other machines or to use for some other construction. Saving and dismantling broken things will help you learn a lot and will make it so that your life is a lot simpler than of you just got rid of your old things and then had to go out looking for parts to buy. Click Here To Read About What Computer Parts You Should Save From Your Old Machines. You never know when a certain type of screw or bolt can come in handy later on down the road.

Trade it In

Trade It In And Make Some Cash
Trade It In And Make Some Cash
If your machine is well and truly dead, you can probably trade it into a Junker for some cash. It won’t be much, probably, but it will be better than just throwing away your old and broken things. At least in that case you are getting something of value for it, and in the end you got all the use out of it that you needed.

3 Educational Activities That Cost Nothing

If you enjoy broadening your horizons and continuing your own, personal education, there are completely free ways to do it. Instead of auditing a college class that you have to pay for, there are many community outlets that have the same standard of intellectual engagement for free. There are government-funded institutions, such as libraries, for example, that specifically exist to serve the general public. Although your first instinct might be that you have to pay for tuition to take a class or for an pricey theatre to attend a play or opera, there many ways to get around these expensive.

Local Library Classes

Pick A Educational Activity You Are Interested In
Pick An Educational Activity You Are Interested In
Your local public library undoubtedly offers classes and workshops on all kinds of topics. Depending on where you’re located, there might a very wide or narrow selection of possibilities, but they’re always free of charge. At the very minimum, most libraries have a reading group. Given that the primary focus on a library is reading material, there’s also often writing workshops offered. You don’t even need to have a library card most of the time. These classes can be found on the library’s website, and there’s usually a place to search for other activities.

Community Center Activities

Community Center Activities Are Fun And Free
Community Center Activities Are Fun And Free
A community center exists to serve the community, and that’s why you’ll be able to find all kinds of free activities here. Whether you’re interested in participating in a discussion group, learning a new skill, or even starting your own group, a community center runs programs that are free of charge for the most part. It’s also a great way to meet other people and make new friends in your own community. You can also organize your own community activity if you talk to the coordinator of special programs. Usually there’s a person in charge of programs specifically. If you have an idea, this is a great opportunity to bring your own interests to the community at large. Try discussing it with the staff at your own center.

Pay What You Wish Museum Days

Pay What You Wish Museum Days
Pay What You Wish Museum Days
Almost all museums have a pay what you wish day, where admission is basically free. These dates usually take place on a regular day of the month, such as the first Friday, and are sponsored by a corporate funder. You can walk into a museum without having to pay a hefty admission charge and explore to your heart’s content. Due to the fact that many museum admissions fees these days are only rising in price, pay what you wish days are a great boon to the budget-conscious scholar who wants continued exposure to culture. Another great reason for taking advantage of these designated days is that, many times, special exhibitions the museum is hosting aren’t even covered by the general admission charge. You don’t only get to see the regular museum for free, but you save extra money on temporary exhibitions that would normally cost a bundle. Museums also have regular public programming, which is usually available for free. This can include everything from lectures to musical performances that relate to their individual mission. An even better place to investigate for free programming are smaller museums that don’t have a mandatory admission fee. These are institutions that probably depend on grants and government funding, for the most part, to keep afloat. Therefore, they’re very interested in bringing in visitors and serving the general public.

How to Save on Your Energy Bill

Utility bills are some of the biggest bills people have to pay, after mortgages, school loans, and car loans. Pretty much everyone has to pay for their electricity, and more often than not winter is the time when the electric bill is highest especially when considering lights, appliances, heaters, and media. If you feel like your electricity bill is way too high and is kind of smothering you then here are a few quick ways to properly limit the use of your electricity and keep your energy bill low.

Turn Off Your Lights

Turn Off Your Lights And Save Money And Energy
Turn Off Your Lights And Save Money And Energy
Always remember to turn off the lights whenever you leave a room. If you can’t remember to do this kind of task, then your electric bill is going to be through the roof. If you can, work using natural light during the day time, and only use light when your eyes really need it to see and work after dark. If it is around the time of the holidays don’t put Christmas lights up, it is just a bad idea when you are trying to conserve energy. Energy efficient bulbs are also a good way to keep the power leech of your home down a few spaces.

Unplug

Unplug Everything You Are Not Using
Unplug Everything You Are Not Using
When you leave things like computers, televisions, and even things like toasters plugged into the wall, they still consume energy. In order to end this phantom energy consumption, unplugging from the wall is the fastest and cheapest thing to do. You can use battery operated machines as substitutes in the meantime, or you can just use this trick when you are preparing for an extended trip.

Insulate

A Good Insulation Will Save You A Lot Of Money
A Good Insulation Will Save You A Lot Of Money
Your house could benefit from better temperature control, especially if you use electric heaters and fans to regulate the temperature in your home. Making sure that doors are insulated properly and are not left open for too long with help you maintain the conditioned nature of your air. In the end the more you do with the way your house is built to withstand the elements, the cheaper your energy bill will be in the long run.

Solar Panels

Solar Panels Is A Clean Way To Save Money
Solar Panels Is A Clean Way To Save Money
Adding solar power to your roof or yard is a bit of an undertaking that has rich rewards. The better the sunlight is in your area, the more you will benefit from the solar power systems being connected to your power source. You can then use energy to heat your water and run your appliances with a guilt free conscience. The solar panels and other alternative forms of energy will really help solidify the decrease in the cost of your electricity.

Tools and Appliances

Things like hair dryers and power tools take up a ton of energy when they are plugged in and being used. If your energy bill is really that high, giving up the uses of your electricity heavy tools is what is best for your house and your electric grid. In general the solution to using too much energy is to figure out where the leaks are and plug them up. You want to make your bills and easier burden to bear financially, and to do that sacrifices might have to be made. This goes for all bills, water, gas, heating. Anything to do with a service generally works better when you use less of their services.