Buying Or Renting A Home: Which Is Best For You?

Buying Or Renting A Home: Which Is Best For You?

Atlantic Home Mortgage
Atlantic Home Mortgage
Published on July 13, 2021

Buying Or Renting A Home: Which Is Best For You?

The question of buying or renting a home is a very personal one. The answer is different for each individual, their family, and their unique circumstances. Both buying and renting have many important aspects to consider. The most important part of any decision is knowing your options and what each of those options entails.

Renting a home


Many individuals choose to rent because they value the flexibility renting affords them. Renters can change location, upgrade or downgrade in size, or decide to move for any number of reasons with little difficulty, although they are accountable for the terms of their lease. This also means their landlord has flexibility upon the renewal of their lease.  Increased rent, length of the lease, and access to amenities are just some of the things that can be adjusted at each lease renewal.

Lower cost

The cost to rent is typically lower than the cost to own a home on a monthly basis. Homeowners have maintenance fees, property taxes, HOA fees, and other expenses that renters do not. However,  renters do not earn equity in their homes, as homeowners do, and are not locked into a fixed long-term payment. Because leasing terms can change greatly over time and there is no ownership of the property, the cost to rent over many years can exceed the cost of homeownership.

Little to no maintenance

Renters do not have the expense and time constraints of maintenance, as most maintenance is the landlord’s responsibility. Unfortunately, this also means renters are at the mercy of their landlords to keep the residence maintained and to respond quickly when there is a maintenance issue.  A broken air conditioner in the middle of July with a non-responsive landlord is not a pleasant situation.

Buying a home


Buying a home is considered by many to be the American dream. A home represents your hard work and dedication to your finances. It’s where your family lays down roots. Owning your home gives you the freedom to make whatever changes you desire to personalize your residence so that it’s no longer a house; it’s your home. You can add on square footage if your family expands beyond your expectations, put in a pool to create a backyard oasis, or create the garden of your dreams. It’s your home and your choice.  By the same token, it is a commitment to a community for at least some period of time, as selling your home and finding a new one is a much bigger project when buying than renting.


A home purchase is not only a personal investment but a financial one as well. Property values increase over time but can be subject to market fluctuations. However, a property held for any length of time will see an overall increase in value. Mortgage payments can also provide tax benefits with a deduction for mortgage interest.   Best of all, once it’s paid for, it’s yours: no more payments and no landlord.


When you purchase a home, you are also committing to a community. This is not only the address of your home. It’s where your kids will go to school. It’s where you will get to know your neighbors and the causes that matter to them and you. Finally, it’s where you will do life together. A home purchase signifies your long-term dedication to a particular place and a desire to help make it the best it can be.

To buy or rent is ultimately a decision about what works best for you and your family, both now and for the future.  Give Atlantic Home Mortgage a call to help you along your journey and answer any questions you may have.

Atlantic Home Mortgage
Atlantic Home Mortgage Alpharetta
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