Sometimes renting gets a bad rap. If you're trying to choose between buying and renting, Williams and McDaniel has pulled together some of the top reasons to rent that you may have missed. As house prices soar and plummet, many people are having second thoughts about buying a home in the first place. With so many renting options available that fit almost every lifestyle and budget, renting is becoming a popular and financially rewarding alternative.
Renting a home can be cheaper
In most cases, you can save a lot of money and avoid economic worries by renting. The cost of renting is normally lower than a monthly mortgage and you don't have to worry about an annual property tax or a Homeowners Association Fee. When you rent a house or an apartment, you are responsible for the monthly rent and utilities and most other fees are the responsibility of the landlord.
When you rent a home or apartment, most of the responsibility is on the owner's shoulders and not the renter's. This means that if a pipe bursts or something breaks in the rental, you can call the landlord to get it replaced and you probably won't have to pay. As a homeowner, you may be looking at a pretty sizable bill anytime you need to repair or replace your home essentials.
Many apartment complexes like Regency Court come with a variety of amenities that include a, pool, storage lockers, and a backyard or green space for residents to enjoy. These amenities can add up to real savings that you won't see if you are a homeowner with a pool and a monthly gym membership. In addition, many apartment complexes have 24-hour security to keep you and your property safe. Adding security features to a house would be a costly investment, but with an apartment you don't have to worry about it.
You can move more easily
More often than not, moving can be a complicated and expensive endeavour. Before a house is put on the market, homeowners often have to do repairs and the fees associated with a real estate agent cut down on potential returns. When it comes time to sell, you'll be at the mercy of the housing market and responsible for finding and securing a buyer. If you are a renter you don't have to worry about any of this. If your needs change, you're free to move without any hassle as soon as your lease is up.
Enjoy a Trendy Area
Renting allows people to live in a hot spot or in a city for a fraction of the cost. For many, the cost of homes in a trendy location makes it impossible to buy. However, renting a one room, apartment or a studio like those available in our downtown Stratford apartments is a far more attainable option for those looking to live in an up-and-coming neighbourhood on a budget.
With many different people living under the same roof and in close proximity to one another, condo and apartment complexes are naturally social. If you've just moved to a new city, this can be a great way to meet new people, make friends and learn about the hidden gems the city has to offer.
It is important to determine precisely what you're looking for and need from your living accommodations before deciding whether you should rent or buy. There are so many advantages to renting and we at Williams and McDaniel Property Management, we wish you luck in your search whether you choose to rent or buy!
Tags: apartment living, benefits of renting