All The Best Benefits Of Renting
Everyone seems to have this lifelong goal of one day owning their own home, but in fact, it’s very overrated to say the least. Sure, there are some financial advantages like selling your home, but renting definitely has an edge, especially when economy isn’t looking too good. The financial benefits to renting rather than buying a house will win every time.
If you still need more evidence, here are some more reasons why renters end up on top.
Access to amenities
Renting means that you have access to any amenities that are around, so anything from the pool, to the gym can be used for absolutely no charge. Now you all know how expensive these things can be on a regular basis, especially if you wanted to install them in your own home – it could cost you thousands of dollars.
No real estate taxes
Let’s put it this way – nobody really likes paying their real estate taxes, but it’s something that has to be done. But as a renter, these rules don’t apply to you. For homeowners, essentially the larger the house is, the more you’ll have to pay on tax. The price can also go up depending on the county you live in.
No maintenance or repair costs
One great advantage to renting is that you are left with no maintenance or repair costs to pay. When you rent, whether it be long term or short term rentals, your landlord is the person that takes care of any problems. So if your fridge has stopped working, or you have a leak in the shower, instead of having to pay for a service to come in and repair it for you, your landlord will sort it. Whereas homeowners have to deal with it themselves which can leave them with a rather big hole in their wallet.
Decreasing property value
The value of a home is always changing. While some days the value can shoot up in price, the next week it could drop right back down again. When renting, you don’t need to be concerned about this at all, because you’re not the one that is responsible of having to boost up the value for future circumstances. You can just live in the now.
Snakes in real estate
A lot of people have been scared off by the idea of owning a home because the market can be a tricky one to get into, especially when there are so many snakes in the real estate industry that live off taking inexperienced clients under their wings and feeding them all the wrong sort of information. It’s awful, but the sad truth is that it happens. And while this can go on whether you rent or buy a house, it’s a lot more severe when buying because there’s so much more that can go wrong.
Freedom of flexibility
If you buy a home, you’re expected to be there for at least a good few years before you even consider moving, and that’s if you ever do. Most people buy a house and plan to stay there for the rest of their life. – This is a big commitment, and you can’t ever really know where your life will take you. What if you got a promotion in your job and had to move states? Or a family member was having problems and you had to move in with them?
Renting gives you total flexibility and freedom to do this. You’re not tied down, and you won’t be losing masses of money either.
Fixed rent amount
When renting, the price that you have to pay every month has been agreed to in the lease, and so it’s impossible for the number to rise any higher unless you have been given notice about it well before. This isn’t a problem because you have time to budget so you can afford what you need every month, or you can decide it’s too much and look for somewhere else. Meanwhile if you own a home, mortgages and property tax can change drastically with no heads up to prepare.
The bottom line
While owning your own home can feel great because you have that responsibility – renting is such a better option for people. Not only are you saving considerable amounts of money, but you’re also not burdened with repairs and problems, giving you a stress-free life to live.
Having said that, at the end of the day the choice is entirely up to you, and you do whatever you feel is right. All of the above is merely to show you what an advantage renting has.
