Renting a home is not uncommon as it is clear that some people cannot afford to buy their own home.

Renting a home is not uncommon as it is clear that some people cannot afford to buy their own home. The natural assumption is that it works out cheaper to buy a home over a long period of time. 

However, where many of us cannot afford the down payment on a new purchase of property, so renting a property on a yearly lease may be the way to go while saving for your first house. Finding a home for rent in the Florida, Tampa Bay area depends on the availability of seasonal as well as year round property. What you need to consider are all the costs involved with renting a home. The cost of renting a home is normally determined by the value of the property and location. Unlike buying, most landlords require you to make a 3 month rent payment before moving in. This usually encompasses the down payment, the first months rent, and second months rent.

The problem with renting a home is two-fold: you will never get back what you put into your rental property (equity and ownership), and secondly you will have restrictions imposed on you that you would not have while owning your own house. However, as a short term solution, renting a home in a new area can be ideal while you save money and slowly shop for your dream home.  I often recommend this to people who are relocating from the north and are not sure of where they want to buy or how big of a house they want to purchase.