Renting is an option many people turn to when they're looking to buy a home. But, renting can be extremely risky if you're not prepared for some of the financial consequences. So what are the pros and cons of renting? Let's take a look at some of the main considerations for both sides of this debate:

Con: You Aren’t in Control of Your Space

There are some downsides to renting a property, especially if you're the type who likes to customize and add features. If you're looking for a place with extra storage space, parking space, or even a room addition, most landlords won't go for it.

Additionally, there's no way to know what condition your future home will be in. You won't have any say over when repairs are made or how they are done (or how long they take). Also keep in mind that with ownership comes responsibility: if something breaks down during your tenancy—and it probably will at some point—you'll have to foot the bill for repairs by yourself. This could get expensive fast!

Con: The Landlord Is Always in Charge

The landlord is in charge. The landlord can make decisions about your home and change the rules at any time. This could be good or bad:

• Good if they're doing a great job of maintaining the property and keeping you happy, but bad if it's a pain to deal with them when you have an emergency or problem (or just want to rent out your apartment).

Pro: In Some Places, This Is Cheaper Than Owning

You’re not alone if you’re thinking about renting. More and more, people are choosing to rent instead of buying a home. Renting is cheaper than buying in many areas around the country, with the average cost of renting being $1,100 per month compared to $1,200 for homeownership.

Renting allows you to try out a location before making a big decision about whether or not it's right for you—and perhaps even before deciding where you'd want to live permanently! For example, if you're considering moving across the country but aren't sure if there's an area where your family would thrive (or at least survive), taking some time as a renter can help determine whether that state has what it takes for everyone involved. Renting also gives people time after college graduation when many students don't have enough savings yet but are already looking ahead toward finding jobs in certain places.

Pro: You Don’t Have to Pay for Maintenance

If you're the type of person who doesn't like to deal with plumbing issues and fixing leaks, renting is a great option for you. When you rent, all of that is taken care of by someone else. You don't have to worry about repairs or unexpected bills because they are handled by the landlord or property manager.

If you're unhappy with your current living situation and think it would be better if only there were another bathroom in your apartment, renting can give you more flexibility than buying does. If a place seems too small but has potential, moving isn't out of the question as long as your lease allows it (and most do).

Consider What Kind of Lifestyle You Want Before Making a Decision.

If you plan to stay in one place for a long time, buying a home is probably a better choice for you. If you are not sure where your life will take you in the future, renting might be the way to go.

Conclusion

When you're looking for a place to live, it can be easy to get caught up in the hype and glamour of homeownership. But if you're not sure whether renting or buying is right for your needs, don't feel bad. There are so many factors at play here—finances, lifestyle choices, even where you want to live—so take some time to think carefully before making any decisions!