Many people dream of owning their own homes. They envision a huge backyard with the most beautiful landscape and a gazebo where one can relax with a book and take in nature and its serenity. To achieve this, it takes a huge amount of time, money, and energy and often outside the vicinity of the city. Renting on the other hand is simple and stress-free, and there are so many rental homes coming up with views and proximity to the city that is unmatched. All at a pretty decent price. The following are reasons why one should consider renting as a better alternative to buying:
1. No Property Taxes.
Based on the value of the house and the size of land it has been built on, property taxes can be quite expensive. On the other hand, people living in rental homes do not have to worry about property tax whatsoever.
2. No Maintenance Cost.
When living in a rental home, the landlord takes care of all the repairs, improvements, and maintenance fees. When the home is yours and the roof is leaking, you have to look for and pay the crew that will come to fix it. When you want to upgrade your interior or exterior, guess what, that is still going to be all from your pocket.
3. Free Amenities
From a while back, rental homes have been offering swimming pool and fitness center services as an add-on to your staying there, and for free. In addition to the swimming pool and fitness center, modern apartments also offer lounge areas, barbecue areas, fire pits, a playground for the kids, a community garden, and pet amenities such as a wash station and dog park. To a homeowner, one has to install all these amenities for themselves, and they are quite expensive.
4. No Down Payment
All one needs for rental homes is the equivalent of two months’ rent, that is one month’s rent and a similar amount to cover the deposit, which should be refundable at the end of your lease if you left the apartment in pristine condition. To own a home, however, most of the time you will need to raise around 20% of the property value as a down payment and then pay the rest off according to terms set by your mortgage contract.
Rental homes are very convenient. when you need a change of environment or are moving away, it is easy to pick up and go. A homeowner on the other hand has to arrange for the sale of the property before they plan on going anywhere, and this is a process that will take time and money to cover selling fees.
For the above reasons and more, it is not a wonder why in a renters’ survey more than 50% of the respondents found renting to be a better choice, stress-free, and budget-friendly. Call us today for more information on our rental homes.