Ways Renting Beats Buying
In recent times, the pros and cons of renting vs buying have seemed to sway in favour of renting, especially from an economic point of view. Home ownership comes with many challenges including maintaining all elements of a house and landscape for comfortable living and ensuring financial preparation. Before you are entirely sure that you are prepared for making the full commitment of purchasing a house, here are 7 ways renting beats buying and why you shouldn’t rush into becoming a property manager purchase just yet….
1) Lower upfront costs: Security deposits, advanced rental payments, moving expenditures… Yes, all rather bothersome, BUT, imagine having to cough up all that money to purchase a house! Dare I mention mortgages and trying to pay it all off…
2) Home maintenance is covered: Routine checkups, repairs and home maintenance? No worries, the home owner, that is, your landlord has got that covered. Clogged sink? – A plumber is sent your way, free from charge! Faulty lights? – Electrician is on his way! Leaking fridge? Broken door? Bothersome pests? — No worries, all that will be taken care of with no direct expense on your behalf! It’s all as simple as emailing your property management team and they’ll organise the rest!
3) A Garden free from effort and cost: Over grown shrubbery? Weekly de-weeding and mowing? Added responsibilities to maintain utilities and necessary equipment through purchasing pesticides, fertilizer, seeds, tank re-fillers, blade sharpeners, pruning scissors… The never-ending list continues! Luckily for you, if you’re renting an apartment or granny flat none of these issues need concern you. Your landlord will take care of all those landscaping costs and responsibilities, all you need to do if wake up, smell the flowers, and appreciate the scenery.
4) Utility costs often covered: Many rentals cover the cost or water and electricity meaning you don’t have to worry about the added cost of using the air conditioner in summer or the heater in winter or a long, steamy shower after work.
5) Insurance fees are lower: The cost for homeowners to protect their personal belongings in the event of theft or natural disasters such as fires and floods etc. is far greater than that for renters. If you choose not to get renter’s insurance, your landlord has a policy in place which covers your living quarters in the event of lightning striking or felled trees.
6) Community units have got you covered: Forget that costly gym membership or entry fees to the communal pools… Many community unit scenarios have added benefits such as swimming pools, gym equipment, pool tables, and other recreational equipment.
7) Moving is as easy as that: Worry not about homeowner’s commission to real estate agents after selling… Provided that you are a decent tenant, you may be able to reclaim your security deposit, and at worst, the most you’ll lose is a month’s rent -far less than a homeowner’s commission! Plus, if you’re renting a furnished area, you don’t have to worry about trying to move all that heavy furniture everywhere with you!
Remember, ‘variety is the spice of life,’ and thankfully when you aren’t tied down to property (literally and figuratively/ financially and physically!) you can explore your living options with far more freedom and less responsibility. You mightn’t feel as great a connection with your living area while renting, but you can enjoy not feeling so OCD about every little detail in your home -home owners everywhere can tell you how frustrating this is! The littlest crack in a wall or leak from a tap which might otherwise have just needed a call to the landlord, become major stresses one must deal with!