Are you currently facing the decision of whether to buy or rent a new home? If so, you’ve come to the right place. Whether you are looking for apartment living or something a bit more permanent like a town home, the decision you eventually make will be solely based on your specific situation, but there are tons of things to love about renting. Below are just a few:
1. Maintenance Free Living – One of the most talked about benefits of renting vs. owning is that you don’t have to worry about maintenance. With apartment living, you can sit back and relax when something breaks or goes wrong, because your property management company or landlord will be responsible for fixing it. There are even tenant’s rights laws that protect you in case the issue isn’t resolved in a correct or timely manner. When you are looking to rent an apartment be sure to thoroughly discuss what (if any) maintenance responsibilities you will have.
2. Cost Saving – Believe it or not, studies show that 20% of home buyers could have saved money if they would have chosen to rent instead. Harvard conducted an additional study that concluded that renting typically made more financial since than owning over the last 15 years in America. Think about it this way; for the first five years after you purchase your home you are basically just giving your money away to a bank. Because of this, 33% of all buyers actually end up moving before they starting building equity.
3. Flexibility – Another huge perk of renting is knowing that you aren’t locked down to any certain place for too long. Sure, you will probably have to sign a 6 or 12 month lease, but when that lease is over you will get the opportunity to renew or move. Think about how much more of a place you could see if you lived in a different city apartment every other year.
As you can probably tell by now, there are so many benefits of renting vs. owning. Apartment living can allow you to save money, be stress free when it comes to maintenance, and have flexibility. Ask your friends and family what they have heard about the best apartments in your area and start making some calls today. This time next year you could be sitting in a loft apartment above a historic and cozy downtown. What’s not to love?
