Home ownership is not right for everyone. It may not be the right time in your life or you may not like the commitment of owning a home.

You are likely to be familiar with renting a house. Here are some ways in which renting and Home Ownership are different:

Renting

Home Ownership

When you rent a house you will normally not be responsible for maintenance and repairs unless you cause the damage. When things need repairing you contact your landlord.

When you own your own home you have more freedom to decorate, landscape, and to change the house without getting permission from others.

Exceptions to this do exist. For example:

If you own a company flat you may need to get others who own flats in the same block to agree before you can paint the outside of your house.

Some changes and maintenance must be approved by your local council before you can do any work.

Renters can move more easily and more quickly than homeowners.

If you do not have spare money you may need to sell your house before you can move.

Homeowners have a financial investment and may build equity in their home.

It is often cheaper to rent than to own your own home.

Owning your own home gives you a sense of community, stability, and security.

When you rent a house, property rates are paid by the landlord.

The costs of buying and selling a home are higher than the costs of renting a home.

Some landlords are not good at maintaining the houses they own. When you own your own home, you are dependent on a landlord to maintain the house.

As a home owner, you are responsible for ensuring your house is properly maintained. This means that you have control of the quality of the house you live in.

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All home owners pay rates to their local council. When you own your own home, you are responsible for making these payments.

If you do not pay your rates the council can demand payment from your Lender. If this happens, and you are unable to repay the Lender, the Lender may be forced to sell your house to get back the money you owe it.

Renting	Home Ownership
When you rent a house you will normally not be responsible for maintenance and repairs unless you cause the damage. When things need repairing you contact your landlord.	When you own your own home you have more freedom to decorate, landscape, and to change the house without getting permission from others. Exceptions to this do exist. For example: If you own a company flat you may need to get others who own flats in the same block to agree before you can paint the outside of your house. Some changes and maintenance must be approved by your local council before you can do any work.
Renters can move more easily and more quickly than homeowners. If you do not have spare money you may need to sell your house before you can move.	Homeowners have a financial investment and may build equity in their home.
It is often cheaper to rent than to own your own home.	Owning your own home gives you a sense of community, stability, and security.
When you rent a house, property rates are paid by the landlord.	The costs of buying and selling a home are higher than the costs of renting a home.
	Some landlords are not good at maintaining the houses they own. When you own your own home, you are dependent on a landlord to maintain the house. As a home owner, you are responsible for ensuring your house is properly maintained. This means that you have control of the quality of the house you live in.
test's another apostrophe's test another apos's test's	All home owners pay rates to their local council. When you own your own home, you are responsible for making these payments. If you do not pay your rates the council can demand payment from your Lender. If this happens, and you are unable to repay the Lender, the Lender may be forced to sell your house to get back the money you owe it.