There is a common phrase “renting is throwing away money” that is often tossed around when renting versus buying is brought up. When deciding to buy in the real estate market as a whole, no matter what the size of your home may be it’s a huge commitment that you’re going to embark on. Condominiums and homes are selling like crazy right now, so why do people still rent? There are many reasons and this guide is intended to provide you with those reasons. The benefits that come with renting an apartment versus buying a condominium or home can be found in detail here.
when you rent you can pick up and move almost anywhere you wish to with usually very little penalties. If you own a home you’ll have the responsibility of selling your home before you can leave, which is a process that can take a very long time. So if you’re given a great opportunity for a new job in a new area and you’re a renter, there are always ways to get out of your rental agreement with some fees. However if you own you just might miss that opportunity until your home sells or be forced to pay two mortgages at a time.
renting comes with a person to cater to all your maintenance problems. When the sink is clogged or the power isn’t working, you won’t have to take care of the headache of being on hold on the phone with your local plumber or electrician. Appliances as a whole are a huge expense to any home. The average cost of a refrigerator will cost you thousands and a new washer and dryer are well above that. So if you own be expected to take care of those fees, as for renters appliances are usually replaced or fixed by your landlord.
Thing we will discuss is that common phrase mentioned earlier “renting is throwing away money”. People often make this statement due to the fact that renters never gain ownership of the place they’re renting. However this can be turned around that when you own a home, you will also be throwing away your money as well. That right! All of those property , condominium fees, and homeowner association fees and so on in your area will add up to just as much if not more in the long run.