While it is a wonderful thing to own a piece of the AMERICAN DREAM, there are many times that renting is an asset! Usually the best time to rent is when the economy is on a down turn. Renting allows you the privilege of enjoying a beautiful home without all of the responsibilities. For instance, when you rent you do not have the responsibility of paying Insurance premiums on the home because that is the responsibility of the owner. You also do not have the responsibility of paying the annual taxes on the home because that is the responsibility of the owner. All major repairs, such as; roofing, structure of the home, air conditioning, electrical wiring and all plumbing is not the responsibility of the tenant but falls completely on the owner. Many times the cost of repairing any of the items mentioned can be in the thousands of dollars. Also, many owners choose to purchase insurance coverage on all of the appliances in the home through such companies as AMERICAN HOME SHIELD and that too is not the responsibility of the tenant but falls completely on the owner.

Also, when you rent you have the privilege of leaving a property at the end of the lease and move to another rental property and in many cases if the property is given back to the owner in the same condition when you, the tenant, first leased the property, any deposit, less deductions, is returned to you giving you money to pay a deposit on a different home.

In any case, the tenant has the opportunity, when renting, to consider all options and do what is best for his or her family and at the same time your rental payments, if paid in a timely manner, can help to improve your credit score and help you to be qualified to purchase a home when the opportunity comes.