There are a variety of reasons that motivate people to move, for most it is the simple desire for change. With this need for change, comes the everlasting question “Should I continue renting or finally buy?” While buying your first home can be exciting, the entire process is very lengthy and sometimes downright stressful. Renting is a great alternative for those who are ready for a change, but not quite ready for the commitment of buying a home.
Saving Money
There are many benefits that come along with renting a home, the most important being the amount of money that can potentially be saved. Homeowners are subject to property taxes, decreased home values in result of the economy and different insurance payments, all of which renters are generally exempt from. Landlords or property managers are also responsible for the costly, yet inevitable, repairs that occur in every home. From structural damage to appliance malfunctions, whatever it may be you’ve decided to rent so don’t sweat it!
Flexibility
Since we can’t predict what life is going to throw at us, having the ability to move with relative ease can be very beneficial. Military deployments, switching school districts, and family issues are possible reasons why individuals would suddenly need to move. With homeowners it may not be possible for them to move without being financially unstable, selling a home is not always the easiest thing to do. Having this flexibility can reduce the amount of stress that already comes along with moving.
Higher Standard of Living
Those that have properties for rent usually have made significant renovations to attract potential tenants. Since there are so many people in the market to rent a home, homeowners must provide a place that is more alluring than others. When buying a home there are only so many options in your price range, so finding a home the has been modernized proves to be difficult. Renting creates the opportunity for someone to live in a home that would normally be out of their price range.
Next time you are thinking about moving don’t overlook all of the potential properties that may be for rent in your area. You never know, it could be exactly what you are looking for!
