Should You Own, or Rent Your Home?

The question of whether to own (buy) your own place or simply find a place to rent is one of the fundamental questions everybody who wants to move and have a place of their own faces.

Of course, there are pros and cons to every decision, and there is no clear cut solution that fits everyone.

For starters, owning a home gives you more freedom, and you aren't tied up with the landlord or the owners of the place - you basically have free rein over everything. The bigger responsibility can be thrilling, but it also may mean more work for you. Unlike in rental space where the responsibilities are shared, you don't have to worry as much over things since you share responsibility with the original owners.

Money is also another issue when renting, as you need to pay rent and other fees monthly, which may be a burden for some, especially in the long run. However, paying mortgage is also something you have to contend with when you have your own home.

In the end, it all boils down to how each works for you. Not everyone can be a homeowner or a renter - as there are certain unique situations or circumstances in the lives of each person that can make either choice the better one. You need to analyze how each decision will impact your life in the long run before making any decisions.