When contemplating a move, you will always wonder whether you should buy or rent your next home. One thing we can say for sure is that there are benefits to both decisions. Your unique lifestyle will decide which one is better for you. The best decision you can make when it comes to your moving experience itself is to hire Golan’s Moving & Storage. But hiring movers is the smallest problem if you don’t know where you will be living yet. With this article, we will try to help and answer your question about renting vs owning a home in Illinois. We can give you the facts, the choice is still up to you.
What do the statistics say about renting vs owning a home in Illinois?
The first thing that we are going to take a look at is the statistics. When it comes to renting vs owning a home in Illinois, the statistics say that the majority of the population own the homes they live in. 66% of people chose to buy their current home, whereas 34% live in a rented property. Even though it is the majority, home-owning has seen a slight decline in the past year, mostly due to the pandemic. Glenview moving companies noticed that people stopped buying properties and moving during this period.
Benefits of renting
While it might seem unlogical, renting can sometimes be the better solution. This is usually the case when:
- You are not ready for commitment
- Changing homes often is normal for you
- You don’t have money to invest
For people like this, there are many benefits to renting and hiring some movers Elmwood Park IL. We will list the major ones below.
You don’t pay maintenance
In case something stops working in a rented apartment you live in, the landlord usually pays for it. Things like leaky faucets don’t cost much to fix, but when you think about it, why would you repair something that you won’t use after moving out with some movers Lincolnwood IL? Apart from paying rent and the bills, you don’t have to worry about any other expenses.
When people are young, the majority start their solo life in a rented property. You won’t know whether you will like a certain city, and it is safer to rent than to commit right away. In case you don’t like a certain place, you can at any moment call some movers Park Ridge IL, and move. Nothing connects you to a certain property and you are free to go wherever you want.
Renting vs owning a home in Illinois – benefits of owning
Buying a home is a big step in everybody’s life, as is moving into that home with the help of some movers Morton Grove IL. 66% of the population of Illinois wouldn’t do it if there weren’t some benefits to it, don’t you think?
Cheaper in the long run
Paying rent will for a sure cost less than the down payment, but what about the long run? The same goes for hiring some movers Northbrook IL. It will look more expensive in the beginning, but it brings many benefits. When paying rent, you will do it every month, and when you move out, you will have nothing. When you buy a home, you will pay for something that will be yours.
Free to make changes
The biggest thing that annoys tenants is that they cannot change anything in the place where they live in. There are many renter-friendly renovation projects, but that just doesn’t cut it. When you have your own home, you can change what you want.
Conclusion on renting vs owning a home in Illinois
When renting vs owning a home in Illinois dilemma, always know that the final choice is up to you. Maybe all the benefits are on the side of renting, but you just want to have a home to call your own. The most important fact, in the end, is that you are happy after moving to a new home. We wish you good luck!