18 Dec Are You Better Off Renting?
True, the American Dream sells home ownership as the ultimate benchmark of success, but it’s not true for everyone.
Often times, it makes more sense to rent your home than to buy.
What makes renting a better option?
Renting, especially in today’s rocky housing market, guarantees:
- Flexibility – Leases usually run no longer than 1 year, while mortgages lock you down for 30 years
- Affordability – Buying a house demands a lot of cash upfront, while renting only requires a small deposit and first month’s rent.
- No Surprise Expenses – As a homeowner you’re financially responsible for all maintenance and repairs. As a renter, your landlord covers those.
- No Property Taxes and Insurance Premiums – Property taxes and insurance on a home you own are no joke, they can run you thousands each year. As a renter you have the option of renter’s insurance, but even that’s not required.
- Freedom – With the rise and fall of the housing market, you might find yourself unable to sell your house. As a renter, you can always
The best thing you can do is ask yourself, what are my needs?
Knowing the answer to these questions will help clarify if renting is for you.
- Do I need flexibility, might I be moving soon?
- Do I want to do the smart thing and test out an area first before thinking about buying?
- Do I want to save money for something else?
- Do I want to be responsible for the home maintenance?
- Do I want to pay the insurance and taxes?
- Do I want the freedom to easily leave?
We know that finding the perfect rental can be a nightmare – endless hunting, and hoping you’ve found the right spot, only to discover that it’s the size of a small closet, under a freeway, missing a roof, or comes with terrible rental terms.
Those kind of rentals are why we got into the business of doing it differently. We take great pride in the condition of our properties and our rents are always fair. Contact us today to see our available properties.