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S H O U L D Y O U R E N T
O R B U Y ?
JASON COHEN PITTSBURGH
OWNING A HOME HAS LONG STOOD
AS A MILESTONE FOR SUCCESS.
Renting, in contrast, seems like a stopgap housing measure: suitable
enough for now, but certainly not a permanent option. But while young
adults (i.e., those under 35 years of age) remain the most likely
demographic to rent, our homeowner-goal culture has taken a hit over
the past decade. Currently, more households are led by renters than
have been reported since 1965. Renting can't be considered merely as a
stopgap measure for younger households anymore - but should you turn
away from home ownership entirely?
P R O
Renting can be great for those
who can’t or don’t like to be tied
down. Students, temporary
workers, and those with jobs that
require them to move are better-
suited to renting because they
only need to be in a certain town
or city for a short period of time.
After their leases end, they can
easily pack up and take off for
their next opportunity - and leave
the landlord to find a new tenant.
Renting also provides greater
flexibility to those who want to
live in neighborhoods outside of
their purchase price range.
C O N
Don’t like an apartment’s lime-
green walls? Want to adopt a dog?
You might be out of luck on both
fronts. Tenants have limited
control over what they can do
with the property without the
owner’s express permission.
Before you sign a lease, make
sure to read it thoroughly to
understand a landlord’s
restrictions. Otherwise, you may
find yourself facing a hefty fine -
or even an eviction notice.
P R O
Renters don’t have to worry about
the nagging details of property
management. When a problem
with the hot water heater or
electrical system arises, all they
need to do is reach out to the
landlord and wait for her to solve
the issue at hand. Homeowners,
in contrast, need to arrange for
trash removal, sewer, water, and
insurance costs on their own time
C O N
A landlord can choose to sell
their property at any time they
please, leaving their unsuspected
tenants in the lurch. Unlike
homeowners, renters don’t have
the security of knowing that they
have a place to live months or
even years down the line - or that
they’ll continue paying what they
are if they choose to stay. Even
well-behaved tenants have no
guarantee that the housing
market won’t demand a rent hike
or that their lease will be
Ultimately, the choice between renting
and buying will come down to individual
Figure out what your situation and
budget allows before making a decision!
M A N Y
T H A N K S
f o r m o r e , p l e a s e v i s i t
J a s o n C o h e n P i t t s b u r g h . n e t