Newcomer Magazine

Choosing To Lease

Posted June 6, 2007 2:44 p.m. EDT

When you move into a new and unfamiliar location, one of the first things that you will consider—after landing that job! — is whether to lease or buy a house, condo or apartment. Why lease, you ask? Here’s a few popular responses:

Convenience and flexibility: You can lease quickly—and at the best monthly rental cost—for as little as three months to a year, and can then renew the lease if you enjoy the home. If you need to leave, you can move out with the same ease as moving in, with a minimum of stress, and without waiting for a home to sell. No muss—no fuss!

Regional vibe: Leasing gives you time to get to know the area before buying. You can scout different parts of the region, see what’s hip or not, search out the best restaurants, ‘specially the BBQ pork houses that North Carolina is famous for, and decide later where to buy a house or condo.

Maintenance and fees: Your landlord will handle maintenance and repairs—unless you’re a do-it-yourselfer and want to do improvements (in that case, you can run out to the nearest home improvement center). You do not have to worry about condo fees or property taxes either—your landlord or home association pays it all.

For many, it’s easier and less stressful to lease, while enjoying work and leisure, without the pressures of homeownership—until the time is right.