Why renting is better than buying

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Information about Why renting is better than buying
Real Estate

Published on February 28, 2014

Author: RichardThompson.lgx

Source: slideshare.net


With all the hype behind owning your own home, in reality, there are plenty of downsides to the whole thing too.

5 Reasons Why Renting Is Better Than Buying It seems that everyone these days is saving up to buy a home. Or if they have a home, they’re saving up to buy a newer, bigger, better home. Buying a home can be a status symbol, a rite of passage, and a journey into true adulthood. But with all the hype behind owning your own home, in reality, there are plenty of downsides to the whole thing too. Owning a home is usually more expensive and time-consuming than renting a home or apartment. And though people think renting a place can be restricting, there are plenty of reasons why owning your own home can be equally restricting, if not more so. Las Vegas is just one of many great places to rent homes. Read on to find out why you may want to consider staying put in your rented space. 1. No commitment Sure, you may have signed a yearlong contract, but even those are easy enough to get out of when you get the itch to move. And if you’re on a month-to-month agreement, then you have even less to worry about when life takes you in a new direction. Renting a space means you can easily move on when you outgrow your home, get a new job, or just feel ready for a change. 2. Less responsibility When you’re renting a home, you never have to worry about everything being your sole responsibility. Sink is clogged? Pipes are frozen? Heater is working? Well, your solution is just one phone call away. Your landlord takes care of all the tough things that homeowners have to worry about. So when something breaks down, you aren’t left stressing about how much it will cost to fix. 3. No high-risk investment Many people see owning a home as a good investment. But if you end up needing to sell your home when the housing market is low, you could even lose money on your house. Paying a mortgage makes you a step closer to owning the home every month, but many homeowners just never make it that far. When you’re renting, you don’t have to worry about the state of the housing market. You can pay your rent and know exactly where the money is going.

4. Utility perks Your landlord most likely chips in to pay some of the cost of living in your space. Many landlords pay for water, heating, garbage disposal, yard maintenance and more. Some generous landlords will even pay for your cable and Internet. When you own a home, all of these bills come out of the woodwork and you’re left spending a lot more than you might’ve imagined. So as a renter, cherish the things you don’t have to worry about paying for. 5. Security and convenience Older people often downsize their living space and start renting again, since many rented apartments and condos are more secure and convenient than a large home might be. Renters often have security guards, door codes and other measures to ensure their safety. They also often have the convenient amenities like a community pool or gym. Photo Credit: Images Money, Theen Moy

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