• 4 Reasons Renting Might Be Better for You

    rent-or-buy-a-house

    Buying a home is a major decision in any person’s life, and it can be a costly and binding one at that. A question that you have to ask is, “Should I rent or buy a house?” Maybe you really want the keys to move into your dream home, but sometimes renting can be the better option in the end.

    Here are four reasons why renting a home might be better right now than buying one.

    1.) Being Financially Responsible

    Buying a home will definitely put some sort of dent into your bank account. Whether it’s small or large it is important you are able to handle that dent. If your dream home is too costly at the moment, renting is gonna be your best bet.

    Renting an apartment or condo for a year or two will allow you to build up money and good credit to help buy a house later on, and lets you avoid the hassle of getting a mortgage.

    Another reason renting helps you save money is no repair costs and maintenance. Your landlord is responsible for things like fixing your fridge or replacing the AC unit if it stops working.

    2.) Flexibility

    Being a renter instead of an owner allows you to be more flexible in terms of a few things. You’re not locked into your rental like you would be in a house, so depending on your contract, leaving whenever you want is totally possible.

    You can also be flexible with your location. Rental agreements are less of a hassle so finding an apartment in any location can be a lot easier than you’d imagine.

    Choosing a place to buy a house can be stressful, and renting can definitely relieve some of that stress.

    3.) Avoiding Certain Costs

    When you decide to rent instead of buy, you won’t have to worry about certain costs and responsibilities. Like I said before, your landlord is responsible for all maintenance and repairs and these costs will not come out of your own pocket.

    But some other things that will help you save money when you rent is the lower insurance cost and no down payment.

    As a renter you are free from costly insurance that comes with owning a home as well as that 20% down payment. Renting will allow you to avoid these costs now and allow you to better save your money.

    4.) Free Stuff!

    Yes you read that right, renting might even get you free stuff, or amenities. In today’s competitive market landlords are looking to step up their game by giving their tenants access to more and more stuff just for renting with them.

    Depending on where you rent, your complex might have a swimming pool, a fitness center, free internet connection, a dog park, and anything else your landlord sees fit. Of course this may raise your monthly rent, but in turn you’ll be able to enjoy more.

    And let me tell you the cost of installing your own gym or dog park at your house will be a lot more!

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