Disadvantages and Advantages of Renting with ValueMags

Disadvantages and Advantages of Renting with ValueMags

There are always disadvantages for every situation of renting but the main disadvantages of renting are that the tenant can ask you to move at any time that they want explains ValueMags executives, commenting on an article in one of their magazine issues.

The neighbors could be very loud or they could cook with a lot of spice making the building smell like spice. If you want to do renovations (paint a wall or something small) you must ask the landlord and if renovations are done it is to the landlord’s advantage since they own it and not to yours. Renting, explains ValueMags executives, gives individuals little power to do what they want because they do not own the property although they are the signed and rightful habitants. When renting you do not gain any assets, all of the money that you put down for the apartment will go to the landlord which will benefit them to pay off their mortgage as well as if the landlord wants to sell the building you might be forced out of your home. The building may or may not have parking for your car meaning you might have to pay for a decal to park on the streets. When renting, ValueMags highly suggests their readers and those they have built relationships with shop around before committing to a contract.

Despite the disadvantages, the given magazine article does express some advantages of purchasing and renting property says ValueMags. Some advantages to purchasing property would be that after it is paid off it becomes an asset, whenever you want to do renovations you can and the chances are that it will increase the cost of your building because of it when wanting to sell. It is a long-term investment to purchase and with inflation the chances are that the cost of the property will increase with time. If you compare how much money you spend on renting an apartment or condo to the amount of money that you could have put down to purchase a home/condo it is tremendous. After the mortgage is all paid off the only extra expenses are the taxes that you have to pay for the house as well as heating and all of the add-onsexplains ValueMags executives. A disadvantage to buying is that if you purchase in the wrong location the cost of your property might actually diminish. Another disadvantage is that if you cannot make the payments you will have to sell the property and all of the money that you have put into it would be a waste.

For more related business topics and insightful magazine issues, contact ValueMags on their official website or on their new blog with the link above.

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