The '2012: Is it Better to Rent or Own?' Graphic Examines Costs
Jennifer Gosnell — August 19, 2012 — Lifestyle
References: visual.ly
If you are a young professional, entering the job force or just generally reconsidering your living arrangements, the ‘2012: Is it Better to Rent or Own?’ infographic is a great place to start. In this useful guide, you can determine what pros and cons are going to make or break your living situation.
Whether you choose to rent or buy there are upsides and downsides—it all depends on what works for you and what you can live with. Of the positives related to renting you have less repair costs, easier moving, lower monthly payments and landlords who can solve your problems.
However, with renting you get no return of investment. With a house you can re-sell and if you fix up the place or the neighbourhood becomes more in demand, you can actually make money off of your purchase.
Whether you choose to rent or buy there are upsides and downsides—it all depends on what works for you and what you can live with. Of the positives related to renting you have less repair costs, easier moving, lower monthly payments and landlords who can solve your problems.
However, with renting you get no return of investment. With a house you can re-sell and if you fix up the place or the neighbourhood becomes more in demand, you can actually make money off of your purchase.
Trend Themes
1. Rent or Buy Dilemma - Real estate and property industries can innovate by offering more flexible and affordable renting solutions while maintaining investment opportunities for tenants.
2. Investment Education - The financial industry can disrupt traditional investment approaches and create more accessible and engaging educational resources for young professionals looking to invest in the real estate market.
3. Hybrid Living - The housing industry can innovate by offering hybrid living arrangements that allow individuals to enjoy the benefits of both renting and owning, providing more affordable and flexible options for consumers.
Industry Implications
1. Real Estate - Real estate companies can disrupt traditional renting and buying models by offering more innovative and flexible solutions that cater to the needs of modern consumers.
2. Financial Services - Financial institutions can capitalize on the growing interest in real estate investment by offering more accessible and personalized investment options for individuals of all financial backgrounds.
3. Housing - The housing industry can innovate by developing new models that blur the lines between renting and owning, offering more affordable and flexible options for individuals and families of all sizes.
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