Pros and Cons of Renting Versus Owning

The Good and the Bad of Renting in San Diego, CA

Owning and renting a home each have their advantages and disadvantages. Depending on what you want out of a living space and how you prefer to spend your money, one option may be more desirable than the other. The insurance experts at American Tri-Star in National City discuss a few of these pros and cons.

Property Management

If you are the renter, the home’s troubles are typically the responsibility of the property owner. In some renters contracts, you might be responsible for paying a small amount per repair or replacement. However, major home problems such as a leak in the roof, a broken down water heater, or a termite infestation will not come out of your pocketbook. If you are the homeowner, all structural problems, appliances, and infestations are yours to handle alone.


When owning a home, you have the peace of mind part of your monthly home payment is actually building equity to use later in life or to eventually pay off the home you are living in, leaving you with no housing payment. This is a big expense in a household budget, often the highest monthly payment. However, when you rent, your monthly payment is only paying the owner’s bills and mortgage. You have no long-term gain in equity when renting.


This is often a large difference in monthly payment as well. Renters insurance usually costs significantly less than home insurance in National City because you are only insuring your personal possessions rather than the home itself. It is the landlord’s responsibility to cover the home’s structure and appliances that come with the rental agreement. However, if you purchase a home, homeowners insurance is often escrowed into your monthly payment. This can potentially raise your monthly home costs by hundreds of dollars.


One of the largest drawbacks in renting is home design and improvement. When you rent, you must have permission to paint, hang pictures and other wall art, and to do just about anything else that can aesthetically change the home. If the linoleum flooring tears, the homeowner you are renting from does not have to repair it or can take time completing it. When you own the home, you can put your personal touches on it and make it your own unique space.

If you are looking to purchase a home and would like more information on homeowners insurance, get in touch with Tri-Star Insurance. We also offer commercial, health, auto, and motorhome insurance in National City. Give us a call today at 619-474-3900 for a free quote.