For years, the topic of renting versus buying has been debated among those who are considering the biggest financial decision of their lives. If you find yourself contemplating moving on from your home or apartment rental into something more permanent, it’s important to realize only your specific circumstances can determine which scenario is best for you. The team at Tudor Oaks Properties has helped many families, couples, and individuals in and around Ashland, KY, settle into rental properties that feel just like home.

Here, the company explains a few factors that indicate you may want to put off becoming a buyer and look for the perfect home for rent instead:

• You’re Not Financially Stable: There are numerous costs associated with being a homeowner. Don’t make the mistake of simply comparing the monthly mortgage payments to monthly rent and thinking it’s the same. Buying a home also means needing a down payment and funds for closing costs, spending money on renovations, maintenance, repairs, and paying property taxes. If you aren’t financially stable enough to live comfortably while paying to be a homeowner, it’s probably a good idea to stick to renting.
• You Don’t Want To Take On Maintenance Responsibilities: As a homeowner, you will no longer be able to rely on someone else to take care of your maintenance and repair problems. It will become solely your responsibility. Living in rental homes or apartments, you have the luxury of calling your landlord to fix whatever you need in a timely manner.
• You Aren’t Sure Where You’ll Be In A Few Years: If you aren’t quite sure you’re ready to settle down where you currently reside or anticipate major life changes coming soon, you might want to think about staying in your home or apartment rental a little longer. When you purchase a home, it’s recommended it be a long-term investment of at least five to seven years. It’s a good idea to determine whether or not you can make this kind of commitment before you buy.

Homeownership is a respectable goal to have, but it’s crucial to know when it’s the right time to buy and when you would be better suited to living in a home or apartment rental. Contact Tudor Oaks Properties at (606) 325-1240 or visit them online to check out vacant properties that are available to rent. You can also find the company on Facebook and Twitter.