It’s exciting to step into your own place for the first time. You get a rush of independence you’ve never experienced before. You can make the space your own. Your home is a part of your identity now, so you want a place that fits.
If you’ve just started your first full-time job, you may be looking for that first place to call your own as well. While many young professionals return to live with their parents for a period after finishing school to pay off debt or save up for large purchases, you may be ready to make your own way, or perhaps you need to relocate to start your career.
When digging into your housing options, one of the decisions you will need to make is whether to buy or rent. You may feel overwhelmed by the number of boxes you have to check to secure a place to lay your head at night. These options may lead you to the age-old question, “should I buy or should I rent?” Changing housing market landscapes and varied financial situations are important factors to consider.
Luckily, if you plan to live in Missouri, especially the Mid-Missouri area, you may enjoy a lower cost of living, including housing. Before you start looking for housing options, it’s a great idea to develop a financial overview, so you have a strong grasp on how much you can spend on housing.
Let’s look at the pros and cons of renting versus the pros and cons of buying a house.