One of the biggest considerations before looking for apartment rentals in Mission Viejo is considering if renting is the right option for you. Although buying has always been considered the “better choice”, it isn’t always right for everyone. The first consideration is how long you plan to be in the area you are moving to. Is your plan only to be there for a few years or perhaps you are new to the area and want to get a feel for the neighborhood before you invest? If your plan is not to stay in the area for more than 3 years, renting is the better option. Another consideration is if you have less than stellar credit history and want to build up your credit score while saving up to purchase a home. Although you will still have to go through a credit check when renting, it is less stringent than a home buying loan. Other reasons may include wanting to grow your family or change jobs.
Buying a home, while offering some tax benefits, is more costly than renting. In most rental situations, a security deposit and first/last month rent may be the only requirements. Purchasing a home requires a down payment and closing costs. Another consideration is the time and energy that owning a home may be. Even newer build homes may require repairs and maintenance. If your lot has a lawn and garden, either you will have to pay for lawn maintenance or take the time to do it yourself. Rentals offer the convenience of a property management company or landlord that will have the responsibility for paying for repairs and upkeep.
