Recent studies show that more and more millenials are thinking into buying a new home instead of renting or leasing one. As first time homeowners, many millenials are more inclined into purchasing their own home sweet home in the coming years. However, there are those who choose to rent or lease a house than to purchase one. But is buying a house the perfect choice or are options such as Arlington homes for lease more viable?
There are plenty of pros and cons when renting or leasing a house. Aside from the fact that it is cheaper compared to buying a house, leasing is more practical for first time homeowners. You don’t need to shell out huge amount of money for a downpayment. In addition, it is hard to qualify for a mortgage since millenials are still in the stage of improving their credit rating thus the risk of not being approved for loan. In this case, renting is the much better choice. In Texas, there are lots and lots of beautiful houses such as those in Arlington homes for lease that are very affordable for single occupants and for families looking for a new home.
Another advantage is that you do not have huge responsibility over maintenance. Of course you have a duty as the tenant to maintain cleanliness in the premises. However, it is still the owner’s responsibility to repair floor damage or water pipe leaks, for example. Unless stipulated in the contract that you are responsible for everything, then you will have no big problem with maintenance. All you need is to contact the owner for repairs.
Another advantage of leasing or renting is that you can move out and transfer to another place once your contract ends. You are not obliged to stay as it is not your own. When it comes to leasing though, it can take a while since contracts are fixed and oftentimes yearly compared to a monthly rental contract. Many leased properties such as Arlington Homes for lease implement a 30-days notice before the tenant decides to move out.
Renting or leasing is not all that good though. One disadvantage is that you do not have full control over your house. When you buy your own house, it gives you that feeling of pride and fulfillment of owning your own abode. It gives you the freedom to do whatever you want with your own home, whether setting up a garden patio or a pool in the backyard. Purchasing your own home also helps boost your credit rating. You can also use your house as an investment in the future by having it rented or leased.
Whether buying, renting or leasing, the most important thing is that you are sheltered in a place you call home. For those looking to rent or lease a new home or an apartment, Texas is one of the best places to start. There are plenty of great houses in different areas in Texas such as in Dallas, Allen and Arlington homes for lease. Texas Longhorn Equity offers quality and affordable rental housing in Dallas Fort Worth Area. For more information, you can visit their website at www.txlec.com.