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Renting has its advantages and disadvantages. You are not tied quite so securely to one place. If you are not too sure how long you will be in a place, or are subject to sudden transfers by the policy or caprice of your company, or if you are the type that takes sudden notions to quit and try your luck somewhere else, then you should rent, and not try to buy or build a house.
Renting also has the advantage of relieving you of some of the responsibilities that go with owning a home. When the roof leaks, just call up the landlord and ask him to take care of it. If you need paint or repairs, let him look after it, and pay the bill. When the tax collector comes around, it is not your problem. You do not need to worry about depreciation. If your family outgrows a house, you can move into a larger one without too much trouble and expense.
It is well to remember that money paid out in rent is gone completely. If you had bought the house ten years ago, and had made rent-like payments for ten years, you would have accumulated a considerable equity in the house, and you would also have benefited from the large increase in property values during that same period. Buying a house gives you something to sell when the time comes to move.
Renting will provide a place to live, without too much capital investment, and will permit you to move without too much trouble, if necessary.
If you have moved to an entirely different part of the country, you should be careful not to buy until you have decided for sure that you intend to stay. It may also be better to rent for a year or two, until you discover what town or what part of town is best for you.
Sometimes a good house can be rented for a year, with an option to buy included in the contract. This gives you more time in which to make up your mind.
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