5 hidden lifestyle perks of buying vs. renting

Buying a home offers many financial advantages, especially when you compare it to renting. But there are other pluses and pleasures of homeownership that sometimes go unnoticed. Whether you want the flexibility to transform your space or simply wish to live on your own terms, owning a home lets you embrace a lifestyle filled with unique opportunities that renting typically can’t provide. Here are 5 hidden lifestyle perks of buying vs. renting.

1. Start a creative venture: If you dream of transforming your passion into your profession, owning a home may give you the privilege to pursue it from the comfort of your own space.
   • Love to cook? You can run a food service company by certifying your kitchen to meet health and safety standards, turning it into a hub for culinary creativity.
   • Are you a musician? By converting an attic or basement into a state-of-the-art music studio, you’ll have the perfect set-up for recording an album or practicing for gigs.
   • Have a green thumb? Growing fresh flowers or produce in your garden can lead to a business, selling your harvest at farmers’ markets or to local retailers.
2. Express your festive spirit: Imagine having the freedom to create a dazzling, over-the-top, celebratory home environment, year-round, without worrying about violating rental agreements. Whether you’re decking the halls for a winter wonderland or conjuring up a hauntingly boo-tiful Halloween display, you can unleash your creativity and take holiday decorating to another level when you own your home. If you’re a member of a Home Owners’ Associations (HOAs) make sure to follow the guidelines around exterior decor.
3. Elevate the fun factor: When you compare buying vs renting a house, homeownership delivers more delights! Case in point: landlords usually don’t allow extensive backyard renovations. However, when you own a home, you have flexibility to create the outdoor retreat of your dreams. Just imagine:
   • Relaxing by your shimmering pool
   • Practicing your golf swing on your backyard putting green
   • Skating on your own ice rink
   • Cooking your favorite meals in your outdoor kitchen

   The possibilities are endless, and being able to share the fun with friends and family makes it even more special. From hosting cocktail parties to barbecues, your personal outdoor oasis provides the perfect backdrop for creating memories.

4. Unleash your inner artisan: Whether you’re into printmaking, furniture restoration, metalwork, or any other specialized craft, owning a home gives you the freedom to outfit a dedicated space so you can build your skills and bring your creative visions to life. From setting up an art studio in your garage to converting a spare room into a fully equipped workshop, your home can support your hobbies better than a rental ever could.
5. Welcome the perfect pets: If you dream of raising chickens for “farm-fresh” eggs, sharing your life with a pair of large-breed dogs, or even caring for more exotic pets—think miniature horse! — it’s unlikely to happen while living in a rental. But when you’re buying vs. renting a house, you can choose the feathered or furry friends that bring you joy as long as you comply with local ordinances.

If you’ve compared renting vs. owning and believe buying a home is the right choice for you, partner with a Guild Mortgage local lender to help you prepare for the process. Your loan officer will take the time to understand not just your financial considerations but also your aspirations to learn why homeownership is important to you.

In return, you’ll get customized advice, including what home loan solutions fit your unique needs. Before you start home shopping, they’ll help you get pre-approved so you’ll know how much you can afford to spend on a home purchase. Once you’ve learned what you’re pre-approved to borrow, you can narrow your search to homes that are right for your budget, which can reduce stress and save time.

Are you ready to embrace the benefits of owning a home vs. renting? We’ll help you choose the right loan for your needs and be there for you from start to finish on the road to homeownership. Use the form on the right to have an experienced loan officer contact you.