Buying a home is a long-time dream of many. However, the capacity to buy and move into a brand new home is not an option for a lot of people. For some, renting a house or an apartment is more practical and convenient. If you are contemplating buying a house and renting one, then here are the reasons why the latter is the better option for you.
Access To Luxurious Amenities
High-end apartment complexes these days come with luxuries that you might not be able to afford if you have your own home. Things like an in-ground pool or a fitness gym are common in many apartment complexes. What’s great is that tenants can gain access to these amenities at no extra charge.
Avoid Maintenance/Repair Costs
One of the major benefits of renting a house is that you won’t have to worry about maintenance and repair. Your landlord is the one who assumes full responsibility for all this. Also, if the house you are renting comes with the appliance, the landlord is the one who will have it repaired in case it breaks down.
Flexibility in Location
If you are a renter, you can practically live anywhere you want. Homeowners on the other hand are restricted to the location where they can afford to purchase a home. For renters, they can live in the city even if the cost of living here is high. Simply because the rent is easy on the budget than buying their own home.
No Real Estate Taxes
One of the expenses that you need to take care of when you own a house is that you will have to be responsible for taking care of your real estate taxes. Take note that real estate taxes can be a burden depending on the location where you are residing at. But in most cases, this is something that hurts the homeowners’ wallets but has no other choice but to pay for it.
Downside Anytime You Want
If your current apartment or condominium unit is too expensive for your budget, you can always downside to a more affordable house or apartment. This is the benefit that you won’t be able to afford if you purchase a house. If you own a property, it would be more difficult to break free from it due to the fees involved in selling your home.
Both renting and buying a house have their financial advantages. If owning a home is not a practical option for you, then you should consider renting one instead. Visit HDRE Real Estate & Strata as they may be able to help you find a home to rent. Who knows, they might also be the key to you owning your own home in the future.