Monday, June 30, 2008

Renting Over Leasing

The hard times are evident and while having a home is practically everyone’s dream, you cannot help but consider the fact that renting is perhaps the cheaper alternative than the usual monthly mortgage these days.

We see mortgage rates practically double the typical rent expense we get today. The difference however is that when you lease, you are leasing to own. Renting is paying a monthly fee for shelter. But the real debate is can you handle the leasing cost over the rental cost.

Without a doubt, it would be better to lease. But consider the expenses you have to account for. Would you have enough in your pockets in the end? Such is a dilemma that people have to consider. Perhaps renting is a good alternative for the meantime that we are in crisis. It all depends on your personal budgeting and financing.