The great thing about owning a home is that you never have to worry about rent increases or your landlord making you move out when the lease is up. The not-so-great thing about owning a home? Your lease is never up.
Renting provides flexibility. Move for your dream job in Morocco? Why not? The perfect house in your now-trendy hometown is finally on the market? Go ahead! Even if you’re in the middle of your lease, it usually won’t bankrupt you to break it.
Sure, as a homeowner, you can make these kinds of moves on a whim—but it could cost you big-time. Don’t count on being able to sell your home in a hurry. At the very least, don’t expect to sell without being prepared to take a loss.
The Eddie Cox Team