Difference between renting and purchasing

Finding an apartment is the only common thing in both renting and purchasing the living place because both of these things will require you to follow different patterns and you have to make sure that you go to the right path while doing so. The first thing that you have to decide before finding an apartment is your needs and whether you need to rent an apartment or purchase it. A city like Asheville provides a lot of opportunities for having the best place to live but this is a big city and all the locations will not suit you according to your habits, likes, dislikes and style of living.

Young people have to do a lot of calculation before making the decision of renting or purchasing the apartment because they will have a lot of other opportunities and choices to follow. For example, you can have your own apartment but at the same time, you can invest the money that you have to pay as a down payment and then increase the investment every year with the money that you will have to pay in form of property tax. On the other hand, you can have an apartment of your own which can be changes according to your own wishes and demands. You can live in that apartment in whatever way you want and you can have a pet without taking permission from anyone else. So a life if independence can be enjoyed if you are the person who likes to live in places with personal customization.

Renting an apartment is suitable for people with limited amount of income because they do not have to pay lease money and they do not have to pay for maintenance of the apartment. Renting an apartment will also save you from paying property tax but you will have to do a lot of things according to the will of your apartment owner. Some people even have to set the temperature of their apartment according to the requirement of their owner so they have to pay for heating money even when they are not at home. This is irritating but landlords are given much more rights than you and you have to know this before making the decision of renting apartment. Landlord also has the right to change rules or add something in the agreement whenever he wants so you will have to make sure that you never piss him off.

On the other hand, an apartment of your own may increase the money which you have to spend every year or month but there are a lot of benefits and biggest one is freedom which no one will want to compromise at any cost. Although you will have to pay extra money for property tax, maintenance and lease payment but this can be arranged by putting a part of your apartment on rent so why bear any other landlord when you can be one on your own. Apartments having basement will provide perfect opportunity for renting without intervening in each other’s privacy.

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